$203 billion and counting: Total debt for state and local retirement benefits in Illinois
Any solution focused exclusively on the state’s $83 billion in pension debt alone ignores the much larger crisis at hand.
Five reasons why local pension accountability is right for Illinois
This week, lawmakers are debating whether local school districts should be held responsible for the retirement benefits of their employees. Here are five reasons why local pension accountability makes sense and why the changes are financially manageable.
Playing favorites: Education pension spending favors wealthy, suburban schools
A bird's eye view of Illinois education spending reveals that the state's intention of sending dollars to poorer districts is blunted by the state's obligation to pay local teachers' pensions.
Another $54 billion?! In addition to pensions, the state owes billions more in retiree health benefits
Illinois state government owes more than $83 billion to the pension plans it operates for retired employees; servicing this obligation is crippling the state’s budget. But pension debt is only part of the story.
Pensions vs. schools
This three-part series by the Illinois Policy Institute specifically focuses on the impact rising retirement costs will have on education funding at various levels.
Fact Finder: Average $30,000 pension?
Pensions may be larger than they appear
Illinois’ pension bonds: The other $26 billion obligation you shouldn’t ignore
Official estimates put Illinois’ unfunded pension liability at $85.6 billion. But that amount does not take into account the $25.8 billion in pension obligation bond (POB) payments still outstanding.
Teachers’ pensions: Who’s really paying?
Many teachers contribute nothing; taxpayers shoulder burden.
College retirees vs. colleges: SURS’ costs to surpass all other higher education spending
The total cost of the State Universities Retirement System (SURS) in 2012 will exceed the amount of general funds appropriated to all other higher education agencies and institutions.
Defusing the pension bomb: A proposal to save Illinois
Bold action is needed to balance the state’s pension funds while keeping Illinois from falling into an economic death spiral.