Pension costs consume 90 cents of every tax-hike dollar
Pension costs consume 90 cents of every tax-hike dollar
Missing from the discussion on state revenues is what happened with all the money from Illinois’ last major tax hike.
Pension crisis hits home: Wilmette
Pension crisis hits home: Wilmette
Unfunded pension debt for police and fire pension funds in Wilmette has increased by 16 percent since 2009.
Is pension reform possible in Illinois?
Is pension reform possible in Illinois?
The plaintiffs in the SB 1 case are asking the court to do something extraordinary: to hold, in effect, that pension benefits should receive stronger protection than any other type of constitutional right.
Pension crisis hits home: Springfield
Pension crisis hits home: Springfield
Since 2009, taxpayer contributions to police and fire pensions in Springfield have increased by 44 percent.
Pension crisis hits home: Morton Grove
Pension crisis hits home: Morton Grove
Morton Grove's police pension fund has just 54 cents of every dollar it needs in the bank today to meet future pension payments.
Pension crisis hits home: Arlington Heights
Pension crisis hits home: Arlington Heights
Whether they realize it or not, taxpayers in Arlington Heights have a lot of experience with the impact of rising pension costs.
Another Illinois town hikes taxes amid skyrocketing pension costs
Another Illinois town hikes taxes amid skyrocketing pension costs
Local governments have their hands tied when it comes to pension reform.
Quinn to receive millions in pension payments
Quinn to receive millions in pension payments
Former Gov. Pat Quinn contributed less than $200,000 to his retirement, but is set to draw more than $2 million in pension benefits over his lifetime.
Illinois pension plans 39% funded, taxpayers on the hook for $105 billion in liabilities: It will get worse
Illinois pension plans 39% funded, taxpayers on the hook for $105 billion in liabilities: It will get worse
Numerous U.S. pension plans are in deep, deep trouble, and Illinois is at the top of the list. Plan assumptions cannot and will not be met.
Illinois millennials’ dual debt crises: Who’s to blame?
Illinois millennials’ dual debt crises: Who’s to blame?
Baby boomers have saddled young Illinoisans with a grossly unfair burden.
Moody’s hits Chicago with credit downgrade, cites pensions
Moody’s hits Chicago with credit downgrade, cites pensions
Chicago’s credit rating trails only Detroit among major U.S. cities.
Federal court declines to rule on whether pension clause protects Chicago health benefits
Federal court declines to rule on whether pension clause protects Chicago health benefits
Now Illinois state courts will decide whether it is constitutional to the city to reduce retiree health benefits.
Lessons from Illinois: Pension obligation bonds only delay the day of reckoning
Lessons from Illinois: Pension obligation bonds only delay the day of reckoning
Illinois resorted to POBs because pension costs were quickly increasing. But instead of reforming the system, political leaders chose to paper over the problem with debt.
Detailing Rauner’s pension plan
Detailing Rauner’s pension plan
Rauner’s initial pension proposal helps him achieve his goal of a balanced budget without tax increases. But it will take a comprehensive, 401(k)-style reform plan to solve the pension crisis once and for all.