What’s driving Illinois’ $111 billion pension crisis
What’s driving Illinois’ $111 billion pension crisis
Retirement ages, COLAs and out-of-sync pension payouts
Illinois Supreme Court ruling could give state workers more retirement options
Illinois Supreme Court ruling could give state workers more retirement options
Concept of “consideration” allows state workers to negotiate for new benefits and could pave a path toward pension reform.
Fitch downgrades Chicago, cites Illinois Supreme Court ruling on pension reform
Fitch downgrades Chicago, cites Illinois Supreme Court ruling on pension reform
The city’s rating from Fitch is now just one notch above junk status.
Moody’s: Chicago pension-reform ruling means increased financial pressure, rapidly growing pension debt
Moody’s: Chicago pension-reform ruling means increased financial pressure, rapidly growing pension debt
The Illinois Supreme Court’s overturning of Chicago’s modest pension reform means Chicago faces higher pension contributions, rapidly growing pension debt and an increased risk of total insolvency for its pension funds.
Chicago pension decision silver linings
Chicago pension decision silver linings
Despite striking down a pension-reform package aimed at reducing Chicago’s pension debt, the Illinois Supreme Court opened the door for future legislative reforms.
Illinois Supreme Court strikes down Chicago pension reform but opens door for other changes
Illinois Supreme Court strikes down Chicago pension reform but opens door for other changes
While striking down modest reforms to Chicago city-worker pensions, the Illinois Supreme Court has effectively given state lawmakers the green light on other avenues for pension reform.
11 things you need to know about Chicago teacher pensions
11 things you need to know about Chicago teacher pensions
Pension holidays, steep increases in teachers' salaries, and lopsided ratios of teacher contributions to pension payouts have caused the Chicago Teachers’ Pension Fund’s unfunded liabilities to shoot up to $9 billion in 2015.
Pension costs eat up funding meant for students
Pension costs eat up funding meant for students
Illinois’ growing pension costs – not the state budget gridlock – are taking away funding for essential government services, such as education.
State-worker pensions, health care crowd out spending on education, public safety, human services
State-worker pensions, health care crowd out spending on education, public safety, human services
Spending on state-worker pension benefits grew 586 percent between 2000 and 2015.
Rauner looks to end pension pickups for legislative staffers
Rauner looks to end pension pickups for legislative staffers
The perk costs taxpayers tens of thousands of dollars each year.
Total student-loan debt in Illinois is approaching $50 billion
Total student-loan debt in Illinois is approaching $50 billion
More than 1.7 million Illinoisans hold student-loan debt.
Springfield couldn’t bail out Chicago Public Schools even if it wanted to
Springfield couldn’t bail out Chicago Public Schools even if it wanted to
State-run teacher pensions have a shortfall of $37,000 per student, while Chicago's shortfall totals $24,000.
Pensions vs. higher education
Pensions vs. higher education
Skyrocketing pensions, bloated administrations are pricing students out of college degrees
Pensions 101: Understanding Illinois’ massive, government-worker pension crisis
Pensions 101: Understanding Illinois’ massive, government-worker pension crisis
The crisis threatens to burden taxpayers with massive, ever-escalating taxes to bail out a system that is not sustainable – government-worker pensions consume a fourth of the state’s budget.