Illinois pension reform resurfaces

By Matt Paprocki
In December 2013, a pension reform bill passed out of the Illinois General Assembly. Sponsors of the bill estimated $160 billion in savings over the next 30 years, and supporters touted that the pension problem in Illinois was finally fixed. In fact, most of the dialogue throughout the Capitol was that the state-funded pension systems...

TAGS: 401(k), COGFA, defined benefit, GARS: General Assembly Retirement System, Illinois General Assembly, pensions

Pension reform: Time to means test COLAs

By Ted Dabrowski
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...

TAGS: COLA, GARS, GARS: General Assembly Retirement System, JRS, JRS: Judges’ Retirement System, SERS: State Employee Retirement System, SURS: State Universities Retirement System, TRS, TRS: Teachers’ Retirement System