Research Project
An Examination of Illinois’ Pension Intercept Law, by Amanda Kass and Andrew Crosby
- Research Area(s)
- Debt and Long-Term Obligations
- Fiscal Policy and Financial Positions
- Government Finance Research
- Public Pensions
Abstract
In the white paper, Life Preservers or Anchors? An Examination of State Intervention in Municipal Pension Funding in Illinois, Amanda Kass and Andrew Crosby provides an overview of the 2016 provision in state law that went into effect that allows local police and fire pension boards to request the Illinois Comptroller’s office to intercept funds and redirect those monies to the pension systems if municipalities’ pension payments fall short of what their contributions are supposed to be under state law. A premise of the pension intercept is that state intervention can help ensure the fiscal sustainability of local governments and their retirement funds. But does that law work as intended? Published: July 2019 Publisher: Government Finance Research Center Read the full report here