Illinois Supreme Court strikes down pension law
Illinois Supreme Court strikes down pension law
Illinois’ political elite devised a pension scheme that was never affordable for Illinois taxpayers.
Illinois Supreme Court rules pension law unconstitutional
Illinois Supreme Court rules pension law unconstitutional
The Illinois Supreme Court on Friday unanimously ruled the state’s pension law, SB 1, unconstitutional. Summary of the Illinois Supreme Court decision.
Stop, wait a minute: The saga of Senate Bill 1
Stop, wait a minute: The saga of Senate Bill 1
Illinois desperately needs a final ruling on SB 1; the clock is ticking.
CTU executives call employee pension contributions ‘insulting’
CTU executives call employee pension contributions ‘insulting’
Chicago Teachers Union executives say their members shouldn’t have to contribute more money to their retirements because of a contract negotiation nearly 35 years ago.
Potential tax hike for Illinoisans is staggering
Potential tax hike for Illinoisans is staggering
A new report claims Chicagoans would face property-tax hikes nearing 50 percent to adequately fund city pensions.
Illinois harbors hundreds of hidden pension crises
Illinois harbors hundreds of hidden pension crises
They might not make headlines, but Illinois is home to hundreds of government-worker pension systems in horrible shape.
7-year negative returns in stocks and bonds, fraudulent pension promises
7-year negative returns in stocks and bonds, fraudulent pension promises
How did Illinois’ pension plans become so underfunded? In general, by promising far more than can possibly be delivered.
Illinois’ pension squeeze hits Lake Zurich
Illinois’ pension squeeze hits Lake Zurich
Lake Zurich is struggling under the weight of growing pension costs.
Chicago brutality victims pay their torturer’s pension
Chicago brutality victims pay their torturer’s pension
Jon Burge draws thousands of dollars each month from a broken system.
Bond experts’ top 5 concerns are bad news for Illinois taxpayers
Bond experts’ top 5 concerns are bad news for Illinois taxpayers
As long as the state mandates pension rules and regulations for local governments, unfunded pension liabilities will continue to pressure local budgets.
Michigan reforms to retiree benefits upheld in 6-0 state Supreme Court decision
Michigan reforms to retiree benefits upheld in 6-0 state Supreme Court decision
Illinois lawmakers now have at least one model on which to base necessary reforms.
Rauner’s plan B for pension reform: Amend the constitution
Rauner’s plan B for pension reform: Amend the constitution
While the state waits for the Supreme Court’s SB 1 ruling, Gov. Bruce Rauner and other lawmakers are working up a pitch to amend the state constitution.
Take note, Illinois: Transition costs not an issue in Pennsylvania’s pension reform
Take note, Illinois: Transition costs not an issue in Pennsylvania’s pension reform
Pennsylvania’s reform efforts mirror the national trend of modernizing public and private retirement systems with 401(k)-style defined-contribution plans.
Lincolnwood: Tax hike for police pensions, but firefighter pensions not an issue
Lincolnwood: Tax hike for police pensions, but firefighter pensions not an issue
Missing from the discussion on Lincolnwood’s pension crisis is talk of the unfunded liability for the village’s firefighter pension fund. That’s because this fund has no unfunded liability – Lincolnwood privatized their fire protection services 25 years ago.