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State Treasurer offers pension-fix proposal
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Illinois State Treasurer Dan Rutherford said Friday in Moline that shifting teacher-pension costs from the state to local school districts should be among the fixes being considered for the under-funded pension system. The state's various pension systems are about $85 billion short. The state has failed for years to adequately contribute to the systems for state employees, university staff, elected officials and downstate and suburban Chicago teachers. Other issues, such as the poor economy, have contributed to the problem. Trying to reduce that gap each year eats up state government's limited funds, leaving little for other needs. "It's come to the point of needing tough love," Mr. Rutherford said during a conversation Friday with The editorial board of The Dispatch and the Rock Island Argus. He believes members of the General Assembly need to look further down the road than the next election to what will help Illinois' residents in the future. While repairing the pensions may not directly end the state's other financial challenges, it may not be possible to deal with the other issues until the pension fix happens, Mr. Rutherford said. One proposal for handling teachers' pensions is a shift of the burden from state to local school districts. Mr. Rutherford said he does not believe that would be a total fix, but believes it should be on the table with other issues the local school districts deal with -- from other state mandates to transportation -- to see what happens. During the visit, he also touted the I-Cash program, which is the state's effort to return unclaimed property to its owners or their heirs. The treasurer's office has about $1.6 billion in unclaimed property, and Illinoisans can search a database to see if they or other members of their families have any waiting for them. Things overseen by the state include abandoned bank accounts, stocks and the contents of safe-deposit boxes. They are sent to the state treasurer if someone cannot be found to rightfully claim them. Last year, more than $100 million worth of property was returned. More can be found at icash.illinois.gov. The Associate Press Contributed to this Report. 
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East moline, IL Details |
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Today is Thursday, May 23, the 143rd day of 2013. There are 222 days left in the year.
1863 — 150 years ago: Messrs. J. and M. Rosenfield have moved their leather and hidestore to the building formerly occupied by Temple Bufords's store. They buy and sellhides, pelts, furs, wool, beeswax, lard, tallow, etc.
1888 -- 125 years ago: The Rock Island Lumber Company has recovered 5,000 of the8,000 logs that were carried away by the Mississippi River flood last week.
1913 -- 100 years ago: John J. Ullemeyer has been awarded the contract to furnish RockIsland fire and police department members with uniforms, at the city's expense.
1938 -- 75 years ago: Work on Aledo's new $38,000 swimming pool was started thismorning at South Park when ground for the pool was broken by Mayor John W. Murphy.
1963 -- 50 years ago: Students and teacher at Moline High School called today "MissLeona Day" day at the school in honor of the government teacher who retires at theend of the school term. Although she's been teaching for 43 years at the school, Miss Dayfound a new way of arriving at the school this morning. At 7:30 a.m., a police squad carpulled up in front of Miss Day's home and escorted her to school. A caravan of students' cars joined the procession along the way.
1988 -- 25 years ago: Barbecue cooking and riverfront antics are planned for Discover the
River Day Saturday in Leach Park, Bettendorf. A 5K run, wind surfing, a canoe race, hogcalling and more will round out the day under the Interstate 74 bridge.
(More History)