The pension crisis has left teachers at risk of losing everything they’re counting on for retirement. Teachers deserve choice and control over their future. The Illinois Policy Institute supports freeing teachers from the bad choices of unpredictable Illinois politicians. Here’s our approach for treating everybody fairly: Pension benefits earned to date are paid. Going forward,...

Even if Illinois pension funds see investment returns that exceed expectations, that still won’t be enough to plug the largest fund’s hole. The Teachers’ Retirement System reported its pension underfunding grew to $55.73 billion as of June 30, 2013 — an increase of more than $3.5 billion since the end of the previous fiscal year...

Chicago Mayor Rahm Emanuel released today his 2014 plan to close the city’s looming $338.7 million budget gap. His proposal is heavy on tax hikes and short on solutions. The mayor vowed not to close the budget gap with higher property taxes this year. Instead, the plan is to nickel and dime Chicagoans with tax...

PRESS RELEASE from the ILLINOIS POLICY INSTITUTE MEDIA CONTACT: Diana Rickert Diana@IllinoisPolicy.org or (312) 607-4977   Illinois Policy Institute statement on pensions: Real reform means adopting 401(k)-style plan SPRINGFIELD, Ill. (Jan. 6, 2013) – The Illinois Policy Institute released the following statement from CEO John Tillman regarding pension reform talks: “Illinois can be an economic...