What happens when a city dedicates excess revenue to Pensions.

The city: Springfield Illinois

What revenue is dedicated to paying down pension liabilities? city’s corporate fund balance was above 16% are dedicated to fire & police pensions

What did City Council do in response? In response to the need for budget flexibility after coal-fired power plants closed, city council tried to repeal the pension fund dedication.

The mayor’s response: veto of City Council action to either repeal or up the threshold to funds above 20%

State Journal Register | Langfelder issues rare veto of pension ordinance