Egan-Jones on Chicago, S&P blames Moody’s and a message to bondholders
Egan-Jones on Chicago, S&P blames Moody’s and a message to bondholders
Taxpayers need protection when municipalities go bust.
5 things you need to know about Chicago’s credit downgrades
5 things you need to know about Chicago’s credit downgrades
Talk of the next Detroit rings truer now than ever before.
Think tax hikes will fix Illinois’ pension crisis? Think again
Think tax hikes will fix Illinois’ pension crisis? Think again
More revenue can’t fix a fundamentally flawed system. Illinois lawmakers should know this; they tried that approach and failed.
Who says Illinois’ state workers don’t get Social Security?
Who says Illinois’ state workers don’t get Social Security?
More than 60,000 workers in the State Employees’ Retirement System participate in Social Security.
Illinois’ unfunded pension liability has increased by $13 million per day since 1996
Illinois’ unfunded pension liability has increased by $13 million per day since 1996
The main driver? A defined-benefit system.
IL taxpayers overpaid for pensions by more than $16B under original Edgar ramp
IL taxpayers overpaid for pensions by more than $16B under original Edgar ramp
What happens when financial gimmicks win out over real pension reform?
Moody’s downgrades Chicago to junk-bond status in wake of pension ruling
Moody’s downgrades Chicago to junk-bond status in wake of pension ruling
Expect local-government finances across the state to spiral downward until politicians pass a constitutional amendment.
Illinois Supreme Court: Nothing is more important than government workers’ right to your tax dollars
Illinois Supreme Court: Nothing is more important than government workers’ right to your tax dollars
In their SB 1 ruling, Illinois Supreme Court justices indicate that paying for pensions is more important than funding core government services.
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.