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City Council Gets Pension Lesson Monday Evening
An item the Galesburg City Council debated pretty heavily during the budget development process last year will now get some more attention.

The Galesburg City Council meets for the 6th time in 6 weeks Monday night, and aldermen will hear about pensions.

City officials say they don't expect any decisions to be made about the city's pension systems tonight, but they do say aldermen will get a lesson about each one.

The city's pensions are underfunded, something other municipalities are facing as well, especially now, as the state has its own fiscal troubles.

The city tried to accelerate pension payments to make them closer to fully funded as part of the most recent budget cycle, but to no avail so far.

The Galesburg City Council had a closed-door session scheduled Monday evening that has since been cancelled, but the work session will still start at 6:30 in council chambers at Galesburg City Hall.
04 09 12 by Newsroom
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