Possible pension fix could save $145B

CHICAGO (AP) – A bipartisan panel tasked with solving Illinois’ multibillion-dollar pension crisis is considering a framework that could save the state about $145 billion over 30 years.

The Associated Press on Friday obtained an outline of ideas the 10-person committee is considering. It calls for ending automatic 3 percent cost-of-living increases for retirees. Increases would instead be linked to the rate of inflation.

Employees would contribute 1 percent less to their own retirement. And the pension systems would be fully funded within 30 years.

Sen. Kwame Raoul is committee chairman. He says the group hasn’t reached a consensus and “our work is not done.”

 

Bike safety returns to Sunday’s Red Cross event

Sunday will be a great day for a walk around Baker Lake in Peru.  But if you don’t feel like walking you could also run or bike.  The annual Walk, Run, Bike and Bike Rodeo for the Red Cross is Sunday afternoon.

In addition to raising money for the American Red Cross by making a lap around the lake, kids can learn about bicycle safety at the bike rodeo.

Registration for the Walk, Run, Bike is at noon.  It begins at 1pm.  The bike rodeo is from 12pm to 2pm.  Kids who complete the bike rodeo will receive a free bike helmet.  The first 100 kids get a free T-shirt.

Peru woman arrested after tip to IV Crimestoppers

It took a year but La Salle Police investigators have a woman they say stole stuff last summer.

With the help of a tip to Illinois Valley Crimestoppers, police in Cook County arrested Brenda Malone of Peru last weekend for two counts of felony theft.

Police say thefts happened in June 2012.  Malone’s bond was set at $40,000.  The person who gave the anonymous tip received $100.

Price At The Pump On The Rise

Hopefully you filled up your gas tank earlier this week.

Gas prices in Ottawa, Streator and Grand Ridge jumped by 25 to 30 cents overnight, now sitting at nearly $3.70 a gallon for unleaded.  As of this morning, prices in La Salle and Peru were still in the $3.40 range.

Dixon has the state’s lowest gas right now at $3.29 a gallon.

Heavy Rain Drenches The Illinois Valley

How much rain did you measure in your backyard yesterday?

Well over three inches of rain was measured in Oglesby and Peru.  Over two inches fell in La Salle, Ottawa, Utica and Marseilles.  Places like Morris and DeKalb had about an inch of rain.

Many places in the Illinois Valley had more rain yesterday than the entire month of August.