Illinois’ economic future pressured by worst pension crisis in nation
Illinois’ economic future pressured by worst pension crisis in nation
Nationwide analysis from the Equable Institute reveals Illinois state pensions remain fiscally unstable, underscoring the need for systemic reform.
By LyLena Estabine
Madigan collects $158K while facing federal corruption trial in Chicago
Madigan collects $158K while facing federal corruption trial in Chicago
Former Illinois House Speaker Michael Madigan collected a pension worth $158,000 in 2024 while facing a federal corruption trial in Chicago. Depending on the verdict, taxpayers could be on the hook for another $1 million to cover his remaining benefits.
By Patrick Andriesen
5 principles to guide Illinois’ public pension reform
5 principles to guide Illinois’ public pension reform
With nearly $214 billion in state and local pension debt threatening both retirees and government finances, Illinois needs a new path forward. Here are five principles to guide the state, protect taxpayers and safeguard public servants.
By LyLena Estabine
Illinois government pensioners deserve more control over their funds
Illinois government pensioners deserve more control over their funds
Expanding retirement savings plans as an option for all new Illinois state employees would give them choice and likely improve the state’s pension crisis.
By LyLena Estabine
Southwest suburban Cook County voters to take up pension reform, key state issues
Southwest suburban Cook County voters to take up pension reform, key state issues
Voters in Lemont Township are taking up the pension crisis, gerrymandering and unfunded mandates. The township voted to put three questions on the April 1 ballot to let state leaders know they expect progress on the issues.
By Dylan Sharkey
Chicago shorts pensions by over $440M a year despite $2.3B hike in spending
Chicago shorts pensions by over $440M a year despite $2.3B hike in spending
Chicago’s public pension contributions remain lower than what actuaries say is needed to pay benefits despite a nearly six-fold increase in spending since 2014. Pension problems are driving high property taxes ever higher.
By Bryce Hill
Suburban Chicago voters to tell state leaders about pension reform need
Suburban Chicago voters to tell state leaders about pension reform need
Winfield Township voters will have a chance to impact Illinois’ pension crisis in the April 1 election. They won’t directly change any laws, but voters can send a strong signal to state lawmakers about pensions causing Illinois’ property tax pain.
By Dylan Sharkey
Chicago property taxes have doubled in 10 years, thanks to pensions
Chicago property taxes have doubled in 10 years, thanks to pensions
Chicago’s government pension obligations have increased nearly sixfold since 2014, driving up Chicago’s sky-high property taxes. Another increase for 2025 was likely avoided, but city leaders need state lawmakers to make a permanent fix.
By Bryce Hill
Illinois state pension debt climbs to $144B
Illinois state pension debt climbs to $144B
Illinois' unfunded statewide public pension liabilities grew another $1.5 billion in the past year. Better investment returns couldn’t keep up with public worker pensions growing faster than projected.
By LyLena Estabine
Homer Township lets voters weigh in on pension reform, key issues
Homer Township lets voters weigh in on pension reform, key issues
Voters in Homer Township will have the chance to weigh in on public pension reform, federal and state redistricting and unfunded state mandates. Illinois state lawmakers have yet to act on the trio of issues.
By Dylan Sharkey
Chicago Mayor Brandon Johnson’s eventual pension payout could exceed $5M
Chicago Mayor Brandon Johnson’s eventual pension payout could exceed $5M
Chicago Mayor Brandon Johnson’s pensions are worth an estimated $3.8 million after only four years as a teacher and one term as mayor. It could go even higher, depending on his next job moves.
By Bryce Hill
Suburban Chicago mayor calls for pension reform
Suburban Chicago mayor calls for pension reform
Elk Grove Village Mayor Craig Johnson said state lawmakers need to step in and help fix public pensions. Pension debt is the biggest driver of Illinois’ property taxes, which are the second-highest in the nation.
By Dylan Sharkey