Moline urged to increase pension fund contributions


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Posted Online: July 14, 2014, 9:09 pm
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By Dawn Neuses, dneuses@qconline.com
MOLINE -- The city is planning its 2015 budget and aldermen, sitting as the committee of the whole tonight, will review reports that recommend contributing $7 million to the police and fire pension funds.

According to actuarial valuation reports, the city's contribution to the pension funds needs to increase $436,746 next year.

The reports recommend that the city levy $3,542,595 for the police pension and $3,488,751 for the fire pension.

Moline's contributions to the police and fire pension, and the Illinois Municipal Retirement Fund, are paid with property tax revenue. Illinois state statute also requires employees to contribute a specific percentage of their salary to the pension funds.

In other business, Christopher Woods, president of Three Corners Development, is scheduled to give an update on The Mills at Riverbend Commons, a student housing building now under construction adjacent to the Western Illinois University QC Riverfront Campus.

The committee of the whole meets at 6:30 p.m. on the second floor of city hall, 619 16th St. The city council meeting immediately follows.

Agendas are available at city hall or online with attachments at moline.il.us.

















 



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  Today is Friday, Aug. 1, the 213th day of 2014. There are 152 days left in the year.

1864 — 150 years ago: A mad dog was shot in Davenport after biting several other canines and snapping at several children. The police should abate this nuisance — there are about 500 dogs in this city that ought to be killed at once.
1889 — 125 years ago: Track laying operations on 2nd Avenue, stopped by the Moline-Rock Island company last spring for lack of rail, have been resumed.
1914 — 100 years ago: Bulletins allowed to come through the strong continental censorship of all war news indicated that Germany was advancing with a dash against both Russia and France.
1939 — 75 years ago: Emil J Klein, of Rock Island, was elected commander of Rock Island Post 200, American Legion.
1964 — 50 years ago: Members of the Davenport police department and their families are being invited to the department's family picnic to be held Aug. 27 at the Mississippi Valley Fairgrounds.
1989 — 25 years ago: Beginning this fall, Black Hawk College will offer a continuing education course in horseback riding at the Wright Way Equestrian Center, Moline, located just east of the Deere Administration Center.




(More History)