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Riverwoods trustees discuss Discover layoffs, possible population threshold and pension consequences
Summary
Trustees discussed recent layoffs at Discover and potential village consequences if the company reduces its local footprint, including triggering a population threshold of 5,000 that would change pension requirements and election procedures and could create an unfunded police-pension liability.
Trustees spent a substantial portion of the meeting discussing headlines about Discover layoffs and potential long-term implications for the village if the company reduces local employment or vacates its campus.
Mayor Ford and Trustee Eastman raised the administrative and fiscal consequences of crossing a 5,000-resident population threshold, noting that such a change would alter election processes for contested offices and require the village to join…
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