Currie to receive 6-figure pension after first year of retirement

By Austin Berg

09/21/2017

The longtime House majority leader will benefit from a sweetener provision that grants massive pension spikes to career lawmakers after one year of retirement.

TAGS: Barbara Flynn Currie, pensions

River Forest District 90 will pay 100 percent of teacher pension contributions

By Mailee Smith

09/15/2017

In the midst of Illinois’ pension crisis, River Forest District 90 has agreed to pay 100 percent of teacher contributions to the Teachers' Retirement System – and it did so secretly.

TAGS: pensions, teacher salaries, TRS: Teachers’ Retirement System

Kentucky governor pushes 401(k)s to help resolve Bluegrass pension crisis

By Ted Dabrowski, John Klingner

09/14/2017

Despite the smaller relative size of its burden, Kentucky is considering making far more comprehensive changes to its public sector retirement systems than Illinois ever has.

TAGS: 401(k), Kentucky, pensions

Mattoon forced to cut ambulance services to pay for growing pension crisis

By Ted Dabrowski, John Klingner

09/06/2017

Communities across Illinois are being forced to cut local services and raise taxes to afford their pension payments, putting residents who rely on local government services at risk because of the inherent failures of defined-benefit plans.

TAGS: 401(k), Mattoon, municipal pensions, pensions, self-managed plans

Rauner signs police pension reform ending double dipping, introducing 401(k) plans

By John Klingner

09/02/2017

The new law is a step toward more fairness within Illinois’ police pension system, while offering certain police officers more control over their retirements.

TAGS: 401(k), Bruce Rauner, municipal pensions, pensions

Harvey pension crisis shows why local governments need a 401(k) option

By Ted Dabrowski, John Klingner

08/23/2017

The Harvey, Illinois, firefighters’ nearly bankrupt pension fund makes up just one part of Illinois’ combined $267 billion in state and local pension liabilities.

TAGS: 401(k), municipal pensions, pensions

Michigan introduces 401(k)-style plan for teachers

By Ted Dabrowski, John Klingner

06/16/2017

With the successful passage of 401(k)-style pension reform in Michigan’s state legislature, Illinois lawmakers should examine their own growing pension crisis and pursue bolder reforms to stabilize the state’s finances.

TAGS: 401(k), Michigan, pensions

House Republicans’ pension plan not the solution Illinois needs

By John Klingner, Ted Dabrowski

06/15/2017

Illinois needs to begin an end to its pension crisis by expanding access to a standalone 401(k)-style plan to all government workers; the new proposal by the House GOP does not accomplish this.

TAGS: 401(k), Barbara Flynn Currie, Illinois House of Representatives, Jim Durkin, John Cullerton, pensions

Pennsylvania introduces 401(k)-style plans for government workers

By Ted Dabrowski, John Klingner

06/12/2017

The size of Illinois’ pension crisis requires even bolder pension reform that includes 401(k)-style plans for public employees.

TAGS: 401(k), Dale Righter, Jeanne Ives, pennsylvania, pensions

Illinois government workers who switch careers can lose big chunk of retirement savings

By Ted Dabrowski, John Klingner

06/01/2017

Pensions punish government workers who leave state employment early. 401(k)s don’t.

TAGS: 401(k), pensions, self-managed plans