Fact check: Pritzker budget takes from college students, gives to pensions

By Dylan Sharkey

05/16/2022

Gov. J.B Pritzker has touted his record on higher education funding, even hinting many students should be given free tuition, but pensions are driving up tuition and eating state university funding. Pritzker refuses to tame that beast.

TAGS: college tuition, education spending, SURS: State Universities Retirement System

Vermont is the latest state to reform pensions with union support

By Justin Carlson

05/13/2022

Vermont and other blue states have recent pension reforms including reductions in cost of living adjustments. What makes Illinois different?

TAGS: government unions, pension reform, Vermont

Illinois college students pay 49% higher tuition to prop up massive pension spending

By Patrick Andriesen

04/25/2022

Illinois spends 27% less on higher education than it did in 2007. University pension spending grew by 510% in that time. It doesn’t take a math major to see why tuition has increased 49%.

TAGS: college tuition, pensions, SURS: State Universities Retirement System

Chicago ex-alderman charged with bribery might keep pension

By Ann Miller, Justin Carlson

04/22/2022

Ex-Alderman Danny Solis handed federal prosecutors the top politicians in Chicago and the Statehouse to get out of bribery charges. His deal could let him keep his pension – a ploy too common in Illinois as voters consider Amendment 1’s potential for protecting pension abuse.

TAGS: Chicago, corruption, Danny Solis, pensions

Illinois cities take on more debt to cope with pensions

By Austin Atterbury-Kiernan

04/14/2022

Pension deficits are causing communities to consider more borrowing – and gambling with the proceeds – as pensions continue to consume bigger shares of budgets.

TAGS: Illinois, local government, pension obligation bonds

Illinois House bill would jeopardize Madigan’s $151K pension

By Dylan Sharkey

04/04/2022

A new bill in the Illinois House calls for suspending the pensions for legislators facing corruption charges. Former House Speaker Michael Madigan, recently indicted for racketeering and bribery, is set to collect $12,600 per month starting in July.

TAGS: corruption, Mike Madigan, pensions

Experts: Illinois lawmakers wrong to back 80% funding level for pensions

By Adam Schuster, Austin Atterbury-Kiernan

04/01/2022

Illinois’ 90% funding target already violates best practices, but some have proposed going even lower. That’s a bad idea based on a myth, according to the American Academy of Actuaries.

TAGS: Illinois, pensions

Illinois schools pay $8.8M in penalties for pension spiking

By Dylan Sharkey

03/25/2022

Illinois school districts paid out $8.8 million in penalties over two school years to cover salary and sick days in excess of what is allowed by law. Those are dollars taken from classrooms, but only hint at the full taxpayer cost.

TAGS: pension spiking, public schools, teachers union

Bill to boost Chicago police pensions would cost taxpayers $3 billion

By Adam Schuster, Austin Atterbury-Kiernan

03/09/2022

Gov. J.B. Pritzker signed a bill to boost Chicago firefighter cost-of-living increases last year, costing taxpayers $850 million. Despite Mayor Lori Lightfoot calling it “irresponsible,” a new bill would do the same for city police at more than triple the cost.

TAGS: Chicago, FOP: Fraternal Order of Police, pensions

Illinois may borrow $1B for pension buyouts

By Adam Schuster, Patrick Andriesen

02/09/2022

Illinois lawmakers might borrow $1 billion to extend pension buyout programs until 2026. Experts warn the efforts have been a disappointment and will do little to ease Illinois’ worst-in-the-nation pension crisis.

TAGS: debt, Illinois, pension obligation bonds