City of Northlake issued the following announcement on Dec. 22.
The latest actuarial study of the Northlake Police Pension fund indicates that the fund is over 71% funded according to the requirements set forth by State Statutes. The Pension Statute requires that the Fund be 90% funded by 2040, and the City is well on the way to achieving that goal before the statutory deadline. The City will be able to meet its annual funding obligation again next year without having to raise real estate taxes.
Original source can be found here.
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