Commentary: Unknown Tier 2 pension costs threaten Champaign’s fiscal health – Champaign News-Gazette

Commentary: Unknown Tier 2 pension costs threaten Champaign’s fiscal health – Champaign News-Gazette

Sheila Weinberg, of Truth in Accounting: "Unfortunately, Springfield is now considering mandating Tier 2 benefit enhancements for Champaign and other cities. But when similar reforms were considered for Chicago’s police and firefighters, the governor and lawmakers acknowledged that they did not fully understand how much unfunded pension debt would be added. ... If similar Tier 2 enhancements were applied to Champaign, the city’s police and firef…