Nearly $2.5B in Illinois public pension payments flow to 70K out-of-state retirees

By Vincent Caruso

06/25/2019

Florida is the top destination for Illinois retirees collecting a public pension.

TAGS: income tax, municipal pensions, outmigration, pension guarantee, pensions, taxes

Pension costs push Metro East property taxes up, as population shrinks

By Ben Szalinski

06/17/2019

Residents in Illinois’ Metro East area are fleeing a growing property tax burden, fueling regional population loss.

TAGS: Madison County, Metro East, municipal pensions, pension guarantee, pensions, property taxes, St. Clair County, taxes

No. 2 New Jersey confronts pension crisis as No. 1 Illinois dithers

By Ben Szalinski

06/13/2019

The New Jersey Senate president is proposing solutions to the state’s pension problem. Illinois is worse off, but state leaders remain silent on reforms.

TAGS: New Jersey, pension guarantee, pensions, taxes

Pritzker budget lifts cap on pension spiking

By Vincent Caruso

06/05/2019

A provision included in Illinois’ previous budget aimed to protect state taxpayers from end-of-career salary spiking in local school districts. The budget proposal en route to Gov. J.B. Pritzker’s desk would repeal that protection.

TAGS: budget, municipal pensions, pension guarantee, pensions, pritzker, spiking

Southwest Illinois county faces property tax hike, layoffs amid rising pension costs

By Brad Weisenstein

05/10/2019

Perry County is home to the DuQuoin State Fair, but the prize hog is a pension system eating money needed for public safety and other core services. County employees face layoffs.

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

Illinois Senate passes bill barring pension double-dipping for local politicians

By Joe Barnas

04/29/2019

Illinois is home to the nation’s worst pension problem. A bill aimed at double-dipping by local politicians could make it better as Illinois pursues a pension system overhaul.

TAGS: double dipping, Laura Murphy, municipal pensions, pension guarantee, pensions, Terry Link

Report: Absent reform, retirement benefits will eat over half of Illinois’ taxes

By Adam Schuster

04/24/2019

More than 25% of state revenue already goes to pensions and retiree health care, but Illinois would need to double that to fully fund promised benefits at current levels.

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

Illinois banks $400M in savings from pension buyouts it can’t calculate

By Bill Reveille

04/11/2019

Illinois borrows money to reduce pension obligations, with more borrowing planned. Claims $400 million in current budget savings, but admits to investors it cannot calculate any savings.

TAGS: Accelerated Pension Benefit Payment, bonds, borrowing, debt, JB Pritzker, pension guarantee, pensions, Program

Illinois Supreme Court: Union lobbyist can double pension for one day of teaching

By Vincent Caruso

04/05/2019

Illinois’ high court ruled a former union employee who worked a single day in the classroom is eligible to receive a decade’s worth of teacher pension benefits.

TAGS: Illinois Supreme Court, income tax, municipal pensions, pension guarantee, pensions, progressive income tax, SERS: State Employee Retirement System, taxes, TRS: Teachers’ Retirement System

Illinois teacher pension fund slams Pritzker’s borrow, delay plan

By Joe Barnas, Adam Schuster

03/28/2019

The Teachers’ Retirement System pension fund board opposed Illinois Gov. J.B. Pritzker’s plan to repeat past mistakes. Here’s why they are right to oppose it.

TAGS: JB Pritzker, municipal pensions, pension guarantee, pensions, taxes, TRS: Teachers’ Retirement System