From the Woodford County 11-30-2005 financial audit:
IMRF (Illinois Municipal Retirement Fund) contributions [by State mandate]:
SLEP (Sheriff's Law Enforcement Personnel - 6.5%
ECO (Elected County Officials) - 7.5%
AOQE (All Other Qualified Employees - 4.5%
County contribution rate for calendar 2004:
SLEP - 15.44% of payroll - $ 210,517 total
ECO - 56.55% of payroll - $ 105,063 total ( 5 persons, if we're correct)
AOQE - 2.90% of payroll - $ 68,957 total
Now, if we're not mistaken, Woodford County got hoodwinked by the State of Illinois by the ECO thing in 1997, and opted out in 2000. The result - we're stuck with over $100,000 per year in pension funding for a handful of County employees, while the remainder have some what less than $280,000 per year contributed on their behalf - we'd say that goes for in excess of 100 employees, as a guestimate.
We don't have an answer . . . we can only ruminate on the mistakes. The elephant is stomping in the closet.
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