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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
Illinois is at risk of getting in costly trouble with the federal government over its Tier 2 public employee retirement benefits. Here’s a solution that doesn’t make the state’s monstrous public pension debt even worse.
Barrington Township became the first local government in Illinois to back changing the Illinois Constitution so public pensions can be brought under control. While essentially an opinion poll, the overwhelming approval shows elected leaders must address this issue.