R-1010 - 03/11/2008 - GENERAL ASSEMBLY LEGISLATION - ResolutionsRESOLUTION 2008 -GL -R -1010
A RESOLUTION IN SUPPORT OF URGING THE GENERAL ASSEMBLY
TO END COSTLY BENEFIT IMPROVEMENTS AND INSTEAD ADOPT
REFORMS WHICH PROTECT POLICE AND FIREFIGHTER PENSION FUNDS
WHEREAS, the Illinois Police and Firefighterfighter Pension Funds are facing uncertainty and a
financial crisis is developing, and
WHEREAS, generous retirement and disability benefits have caused the Funds to incur
escalating debt that threatens their long -term sustainability, and
WHEREAS, the Illinois General Assembly has continued to add to the growing costs of these
Pension Funds through increasing benefits without providing additional revenues; and
WHEREAS, benefit increases in recent years have contributed to a doubling of the debt carried by
Police and Firefighter Pension Funds from 1999 -2004, and
WHEREAS, the amount of debt carried by Police Pension Funds as of 2004 reached $179,958
per active police officer and the amount of debt carried by Firefighter Pension Funds reached $176,845
per active firefighter, and
WHEREAS, there is no certainty that the current benefit levels are sustainable by municipalities
for the existing and improved benefits, and
WHEREAS, local taxpayers are ultimately financially responsible for the growing pension
obligations and will invariably be expected to pay those costs, and
NOW, THEREFORE, BE IT RESOLVED by the President and Board of Trustees of the Village of
Oak Brook, DuPage and Cook Counties, Illinois, as follows
Section 1 That the Village President and Board of Trustees for the Village of Oak Brook
hereby urge the General Assembly to stop approving new and increased pension benefits for the Police
and Firefighter Pension Funds
Section 2 That the Illinois General Assembly embrace sensible pension reforms in the
areas of ethics reform, professionalism of Fund management, public sunshine and disclosure of Pension
Board activity, conflict -of- interest restrictions, accountability measures, improved cost impact analysis,
meaningful regulation and enhanced local government funding authority
Section 3 All resolutions or parts of resolutions in conflict with this resolution are hereby
repealed to the extent of the conflict
Section 4 This resolution shall be in full force and effect from and after its passage, approval
and publication as required by law
APPROVED THIS 11th day of March, 200
John W Craig '
Village President
Lf
PASSED THIS 11th day of March, 2008
Ayes Trustees Carson Kennedy Manofsky, Sanford and Wolin
Nays
None
Absent Trustee Saiyed
ATTEST
Charlotte K Pruss
Village Clerk
Resolution 2008 -GL -R -1010
Resolution re Police &Firefighter
Pension Funds Page 2 of 2