Will County Gazette

Wirepoints President Ted Dabrowski is warning Joliet taxpayers about teacher contracts in the city’s school districts spinning out of control.

With Joliet PSD 86's teacher contracts expiring next year, and Joliet Township HSD 204 in 2024, the city will soon get a taste of the benefits that "drive up taxes and pension costs," Dabrowski said in other Illinois cities. "The numbers are staggering. Joliet residents are next in line if they don’t engage.”

Dabrowski and WJOL host Scott Slocum insist they’ve seen it all before when it comes to what they view as Illinois’ out-of-control pension system.  

“The numbers are staggering,” Slocum agreed.

Besides runaway pension costs, Wirepoints recently advised Joliet residents to also keep an eye on such additives as long-term contracts, educator salaries, sick-leave, health benefits and so-called salary spiking.

In District 204, the average educator earns nearly $80,000, while those in District 86 make nearly $60,000, and career employees with 30 years of experience make up to $120,000.

Wirepoints compares what’s happening now on the rising debt front with a family planning to borrow more money to pay off existing debt.  

“It’s a fool’s game, but that’s exactly what some politicians in Illinois are considering now to address their cities’ growing pension crises,” the website added. “Lawmakers want to borrow money from the bond market to pay down pension debts by issuing what are known as Pension Obligation Bonds, or POBs.”

The government watchdog website rates it as a lose-lose game for taxpayers, adding “if politicians get it right governments will have extra money to spend and grow even bigger. And if politicians get the bets wrong, they’ll come after taxpayers to pay off their gambling losses.”

Still, cities like Moline, East Moline and Rock Island are reported to be considering such a strategy. Collectively, the communities owe tens of millions to their local public safety funds as rising pension costs continue to consume upwards of half of city budgets.

In East Moline, city officials are considering a plan where they would borrow as much as $41 million via a POB, which they say would be used to fully fund their public safety pensions, all on the back of already stressed out taxpayers.

Finally, as debts have grown despite city taxpayers being squeezed for more, retirement security for public safety workers has collapsed to the point of public safety system pensions now only being 54% funded. In Moline and Rock Islands they're only about a third funded.