LOCAL FOOTBALL SCORING UPDATES PRESENTED BY THE HUNGRY HOBO:

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 Sunday, Sept. 21, the 264th day of 2014. There are 101 days left in the year.

1864 -- 150 years ago: We hear that Col. Reynolds has employed C.D. Merrill to drill for water to supply the Rock Island Barracks.
1889 -- 125 years ago: Billy Catton, famous billard player, returned to Rock Island with a view to making this city his home in the future.
1914 -- 100 years ago: The belief is growing that a great decisive battle of the World War was being fought at Verdun, a strong fortress of France on the Meuse near the French frontier, according to a London dispatch.
1939 -- 75 years ago: William Stremmel, 91, Rock Island's last Civil War veteran, died.
1964 -- 50 years ago: Workmen of the Midwest Wrecking Co., Clinton, have begun razing the historic old office building of Deere & Co., 1325 3rd Ave., Moline. The site will be used by the Deere Plow Works for its shipping and receiving department.
1989 -- 25 years ago: East Moline developer Jim Massa says the financial package for the proposed $34.5 million Quad City International Motor Speedway is down to making sure "all the i's are dotted and t's are crossed. Finalizing this will give the green light to see if NASCAR and CART, the auto racing sanctioning bodies, approve race dates.






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