Harvey, the first domino in Illinois: Data shows 400 other pensions funds could trigger garnishment – Wirepoints Special Report | Wirepoints: "You’d be mistaken to think Harvey, Illinois has a unique pension crisis.
It may be the first, and its problems may be the most severe, but the reality is the mess is everywhere, from East St. Louis to Rockford and from Quincy to Danville.
A review of Illinois Department of Insurance pension data shows that Harvey could be just the start of a flood of garnishments across the state (click here to see the list).
Harvey made the news last year when an Illinois court ordered the municipality to hike its property taxes to properly fund the Harvey firefighter pension fund, which is just 22 percent funded.
Now, the state has stepped in on behalf of Harvey’s police pension fund.
The state comptroller has begun garnishing the city’s tax revenues to make up what the municipality failed to contribute.
In response, the city has announced that 40 public safety employees will be laid off..."
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