Taxpayers cover costs of bad pension fund investment return predictions
SPRINGFIELD (Illinois News Network) -- As municipalities across the state determine how to spend taxpayers' money for the next year, they’re looking at what to expect for pension fund investment returns. Bad predictions can mean big costs to taxpayers and, when estimated returns on city pension fund investments are too generous, taxpayers have to pay up. The city of Springfield’s estimated returns were off enough to require an additional $600,000 the city didn’t budget for. That’s expected to impact other […]
