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City Council pushes revenue to 2022/2023 to cover pension obligations

Peoria city council public safety pension
Peoria city council public safety pension(25 News/Heart of Illinois ABC)
Published: Nov. 23, 2021 at 10:52 PM CST
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PEORIA (Heart of Illinois ABC) - The Peoria City Council took a vote several weeks ago to sunset the Public Safety pension fee. Tuesday, they voted to fill that gap of just over $4million with 2021 revenues.

That fee was originated in 2018 and expires after 2021. It generated about $2 million per year directly toward public safety pension obligations.

For several weeks, the council has debated how they will fill that hole left behind. During Tuesday’s meeting, City Manager Patrick Urich presented revenue earnings that have surpassed the projections for the year, leading to a surplus.

District 3 Councilman Timothy Riggenbach took this as an opportunity to motion to use $4,038,664 in excess revenue to pay for the pension obligations in 2022 & 2023. “That seems like a great stop-gap measure,” he explained.

The idea was supported by several other council members, but others didn’t see it the same.

“I’m not here to see what fixes itself later. I’m a no on this proposal. I can’t imagine out of 250 million dollars we can’t find a place to address a couple million,” explained Zach Oyler, At-Large Councilman.

Oyler, Sid Ruckriegel, and Dennis Cyr all voted against the motion. It passed 8-3.

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