Chicago Mayor Rahm Emanuel endorses pension amendment to Illinois Constitution

By Adam Schuster

12/11/2018

Outgoing Mayor Rahm Emanuel is publicly pushing for a constitutional amendment to the state’s pension clause. Pension reform is the only way to combat rising property taxes and prevent further budget chaos in Illinois state and local governments.

TAGS: Chicago, municipal pensions, pension guarantee, pensions, property taxes, Rahm Emanuel, taxes

Fitch warns against CTBA’s reckless pension plan

By Adam Schuster

12/11/2018

Fitch Ratings has issued a warning about a pension plan pushed by one Illinois think tank, which includes no reform and would harm the state’s credit rating. The response from the Center for Tax and Budget Accountability proves how indefensible the plan really is.

TAGS: CTBA: Center for Budget and Tax Accountability, Fitch Ratings, municipal pensions, pension guarantee, pensions, property taxes, taxes

More than 70 Belleville-area school retirees are pension millionaires

By Vincent Caruso

12/10/2018

Pension payouts collected by the Belleville area’s top-earning school retirees underscore the need to reform Illinois’ unaffordable pension system.

TAGS: Belleville, Belleville School District 118, Belleville Township School District 201, municipal pensions, pension guarantee, pensions, property taxes, St. Clair County, taxes

Carterville passes largest property tax hike in city history to pay for pensions

By Vincent Caruso

12/06/2018

Pension costs now consume nearly 70 percent of the city’s annual property tax levy. It may not be enough.

TAGS: municipal pensions, pension guarantee, pensions, property taxes, taxes

Happy birthday: The solution that never was to Illinois’ pension crisis

By Austin Berg

12/06/2018

Illinoisans should know lawmakers in the past made big moves to fix the state's worst-in-the-nation pension crisis. It’s politically possible. They just need a little reminder of our history.

TAGS: Mike Madigan, municipal pensions, Pat Quinn, pension guarantee, pensions

Illinois Supreme Court defends inflated pensions for Chicago union leaders

By Adam Schuster

12/01/2018

Once again proving why the state must amend the Illinois Constitution’s pension clause, the court unanimously ruled in favor of a special perk that inflated union leader pensions to nearly three times the pension of the average worker.

TAGS: Chicago, credit rating, municipal pensions, pension guarantee, pensions, Rahm Emanuel

Illinois passes state law giving pension boost to one Chicago alderman

By Vincent Caruso

11/28/2018

State lawmakers overrode Gov. Rauner’s veto of a bill that allows one former firefighter serving as a Chicago alderman to credit his political salary toward a more lucrative fire pension. The pension boost will also apply to future aldermen with a history of fire department work.

TAGS: Chicago, Chicago City Council, municipal pensions, Nicholas Sposato, pension guarantee, pensions, Robert Martwick

House passes pension boost bill for one Chicago alderman

By Vincent Caruso

11/27/2018

Illinois House members voted to override Gov. Rauner’s veto of a bill that would allow a former firefighter serving as a Chicago aldermen to credit his political salary toward a more lucrative fire pension. While just one alderman now qualifies, the bill could extend the perk to more in the future.

TAGS: 401(k), Anthony Napolitano, Bruce Rauner, municipal pensions, Nicholas Sposato, pension guarantee, pensions, Rahm Emanuel, Robert Martwick

CTBA pension plan: Unsound, unfair and unaffordable

By Adam Schuster

11/26/2018

A pension plan pushed by one Illinois think tank fails to reform the state’s broken pension system and risks repeating costly mistakes. Gov.-elect J.B. Pritzker shouldn’t be fooled and should instead endorse meaningful, lasting reform.

TAGS: CTBA: Center for Budget and Tax Accountability, debt, Edgar Ramp, JB Pritzker, Jim Edgar, municipal pensions, pension guarantee, pensions

More than 19,000 Illinois government retirees receive pensions over $100K

By Janelle Cammenga

11/21/2018

The average six-figure retiree contributed just over $160,000 toward their own pension over the course of their career.

TAGS: GARS: General Assembly Retirement System, IMRF: Illinois Municipal Retirement Fund, municipal pensions, pension guarantee, pensions, property taxes, SERS: State Employee Retirement System, SURS: State Universities Retirement System, taxes, TRS: Teachers’ Retirement System