Illinois can do it the old way and raise taxes to deliver pork projects. Or Illinois can be smart and make each tax dollar work hard to deliver projects that help residents and the economy.View Report
More than 25% of state revenue already goes to pensions and retiree health care, but Illinois would need to double that to fully fund promised benefits at current levels.
For the second time, Arizona voters approved a constitutional amendment allowing changes to unearned future pension benefits.
Former lawmakers receive generous benefits from the state’s worst-run retirement fund.
House Bill 5760 would stop lawmakers’ scheduled cost-of-living adjustment. Illinois lawmakers are the fifth-highest paid state lawmakers in the nation.
The ruling will likely mean higher taxes for Chicagoans.
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.
There’s immense pressure on Illinois legislators to pass a pension bill. With the state pension system nearing insolvency and credit agencies warning of further downgrades, the perceived wisdom is that any pension fix, no matter how small, is a “step forward” that must be passed. But when it comes to pension reform in Illinois, that...
Illinois’ pension conference committee is once again rumored to be nearing a “fix” for the state’s pension mess. But if the pension conference committee is serious about saving the pensions of state retirees and workers who have dedicated their careers to public work, they will put an end to cost-of-living-adjustments, or COLAs, for government retirees...