My, my, there is certainly a lot of wailing and gnashing of teeth over Gov. Quinn’s proposal to ask the local school district’s to pay part of the cost of the pensions. Everyone both Democrat and Republican are against it. The concern is the increase in property taxes that might ensue from implementation. The total cost passed on to the school districts (called Normal Cost) would be about $750 million/yr. about 25% of the total required contribution. In other words taxpayers at the state level would still be on the hook for the vast majority of the cost.
Yes, Public School Districts Should Pay for Pensions
April 27, 2012 By