ROCKFORD, Ill. (WTVO) — Rockford city leaders are warning that growing police and fire pension obligations could place increasing pressure on taxpayers and city services in the years ahead.
During a presentation to the Rockford City Council Monday night, city officials and consultants reviewed the latest financial outlook for the city’s police and fire pension funds. While the city’s investment returns were strong in 2025, officials said the city still faces nearly $500 million in unfunded pension liabilities and escalating annual contributions through 2040.
According to the presentation, the city’s fire pension fund carries an unfunded liability of approximately $254 million, while the police pension fund has an unfunded liability of about $236 million, for a combined total just under $500 million…