Two interim comptrollers hired by the City of Dixon have discovered that fired Comptroller Rita Crundwell transferred money out of the police and fire pension funds to pay city bills Dixon Mayor Jim Burke told sauk valley.com about $100,000 was transferred out of the pension fund, which is not supposed to be touched, and into the general fund from which bills are paid.
A revised plan to overhaul state pensions has cleared its first hurdle and is headed to the Illinois House.
Just yesterday, partisan differences had threatened to kill prospects for a pension overhaul when Republicans refused to go along with House Speaker Michael Madigan's plan to cut pension costs. Madigan transferred sponsor ship to House Republican Leader Tom Cross.
The Illinois House is divided over a measure that would bring major changes to the state's pension system. The plan was approved by a committee on Tuesday. But it ignited a tense debate on the House floor.
State and university employees and public school teachers will have to accept lower cost-of-living adjustments in retirement or see future pay increases not count toward pensions under sweeping changes to the state pension system approved this morning by an Illinois House committee