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.
By Benjamin VanMetre
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.
By Benjamin VanMetre
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.
By Benjamin VanMetre
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.
By Benjamin VanMetre
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.
By Austin Berg
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.
By Austin Berg
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.
By Austin Berg
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.
By Benjamin VanMetre
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.
By Benjamin VanMetre
Pension costs to consume 25 cents of every state-budget dollar in Illinois
Pension costs to consume 25 cents of every state-budget dollar in Illinois
The state’s 2016 pension cost is projected to increase to nearly $8 billion – or 25 cents of every dollar the state spends during the next budget year.
By Benjamin VanMetre
State of the state: 10 pension facts every Illinoisan should know
State of the state: 10 pension facts every Illinoisan should know
How bad the pension crisis really is, and why getting politicians out of the retirement business is the only way to solve it.
By Benjamin VanMetre