Elmhurst Sees Spike In Pension Costs

ELMHURST, IL – The taxpayers' contribution to the Elmhurst police and firefighter pension accounts is expected to skyrocket next year.

In a report last month, the city's actuary recommended the city increase its contribution by $1.1 million in 2024, a 16 percent increase from this year.

That would mean the city's total contribution would be $8.2 million next year, up from $7.1 million.

In 2018, the city's taxpayers put $5.8 million into the pension accounts.

On Monday, the city's treasurer, Dan Curran, noted the pension cost increase in arguing against relying on property taxes to pay for stormwater projects.

He warned that the city may see its first property tax increase in more than five years.

Police and fire pensions are controlled by state law. The city has no power to curtail costs.