Pensions

Chicago has more public pension debt than 43 states

Chicago has more public pension debt than 43 states

Chicago’s pension systems for city workers have $51 billion in debt, so much that they are in worse shape than 43 states. Fixing them requires Chicago’s mayor to push for a change in the Illinois Constitution.

By Ravi Mishra

Pension reform vote coming to suburban Chicago township

Pension reform vote coming to suburban Chicago township

Barrington Township will be the first local government in Illinois to give taxpayers a vote on reforming the single-largest property tax driver in the state: public pensions. The advisory referendum will be on the ballot Nov. 5.

By Patrick Andriesen

Illinois may take on massive public pension boost with no clue on costs

Illinois may take on massive public pension boost with no clue on costs

Several bills that enhance Tier 2 state worker pension benefits, reduce retirement ages, allow for large end-of-career lump-sum payments and other pension sweeteners are moving through the Illinois General Assembly. They appear to be heading for a vote.

By Bryce Hill

Illinois shorts higher ed by nearly $530M compared to 15 years ago

Illinois shorts higher ed by nearly $530M compared to 15 years ago

Illinois’ institutions of higher education will get nearly $530 million less from lawmakers to run this year than they did in fiscal year 2009, adjusted for inflation. Coupled with rapidly rising pensions, students and their families can expect ever-higher tuition costs.

By Patrick Andriesen