Skokie is latest Illinois community paying pensions by borrowing

By Patrick Andriesen

01/20/2022

The village of Skokie issued $176 million in new bonds to fund shortfalls in public safety pensions. The village joins a growing list of municipalities forced to borrow to meet “unsustainable” pension obligations.

TAGS: bonds, debt, pensions, Skokie

To fix Illinois’ pension crisis, first change its constitution

By Dylan Sharkey

01/18/2022

Illinois allocates more of its budget to pensions than any other state, but pension spending has only skyrocketed. A constitutional amendment is the only way to reform the state’s unsustainable and underfunded pension systems.

TAGS: Illinois Constitution, pensions

Illinois pension debt is little less worse, but still worst in U.S.

By Patrick Andriesen

12/17/2021

Illinois’ worst-in-the-nation pension debt shrank slightly after investments more than tripled predictions, thanks partly to COVID-19 stimulus. Experts caution 1 year cannot undo decades of overpromising and underfunding.

TAGS: debt, Illinois, pensions

Illinois police, firefighters push back on state control of pensions

By Patrick Andriesen

12/06/2021

Gov. J.B. Pritzker signed a bill to consolidate local police and firefighter pensions from across downstate Illinois, but beneficiaries are suing because the state is notorious for poor pension management.

TAGS: consolidation, government unions, Illinois, pensions

Peoria mayor on pensions: ‘We’ll never catch up, not in our lifetimes’

By Patrick Andriesen

11/29/2021

Peoria leaders said they are in ‘survival mode’ and need to take $4 million from this year’s budget to help make pension payments for the next two years. The mayor calls for state action to fix the pension debt crisis.

TAGS: pensions, Peoria

What unions aren’t telling Illinois teachers: Your pension is in trouble

By Mailee Smith

11/01/2021

Barring reforms, the Teachers’ Retirement System could eventually run out of money and be unable to pay promised benefits to retirees, all while making it more expensive for teachers to live in Illinois.

TAGS: Illinois, pensions, teachers union

Public labor unions push for more power over municipal, teacher pension funds

By Joe Tabor

10/25/2021

Bills backed by Illinois public-sector unions would give them more power in administering pension funds despite evidence of worse outcomes.

TAGS: Amendment 1, Illinois, pensions, unions

Illinois’ rising property taxes driven by $75 billion local pension debt

By Adam Schuster

09/27/2021

Rapidly rising property taxes and growing pension costs leave homeowners asked to pay more to get less. Relief requires structural pension reform, starting with a constitutional amendment.

TAGS: Illinois, pensions, property taxes

Pensions in Quincy cost 126% of municipal property taxes

By Adam Schuster, Justin Carlson

09/24/2021

Quincy property taxes do not generate enough to fund the municipal pension costs. Even with that heavy burden, there is so much state and local pension debt that the average Quincy household owns more than $35,600.

TAGS: pensions, property taxes, Quincy

Nearly 40 cents of every education dollar in Illinois goes to pensions

By Adam Schuster

09/22/2021

Rapidly rising pension costs compete with classroom spending, reducing resources for teachers and students while driving up property taxes.

TAGS: education spending, K-12, pensions