Oak Lawn credit rating hits junk status amid skyrocketing pension costs

By Brad Weisenstein
Massive increases in public safety pension contributions have failed to keep Oak Lawn’s credit from being downgraded to junk status. The Chicago suburb’s leaders are fighting cuts and tax increases, which are inevitable without pension reform in Springfield.

TAGS: credit rating, fire pensions, firefighter pensions, Illinois Department of Insurance, junk credit rating, Moody's Investor Service, municipal pensions, oak lawn, pension benefits, pension contributions, pension costs, pension crisis, pension debt, pension obligations, pension reform, pension spending, police pensions, public safety, public safety pensions

Illinois to allow insurers to extend canceled health insurance policies

By Naomi Lopez Bauman
In an effort to curb the tide of millions of health insurance cancellations as a result of ObamaCare, the president called on state regulators to extend the terminated health insurance policies that were canceled as a result of ObamaCare mandates. In response, Illinois Department of Insurance Commissioner Andrew Boron announced that the department “will follow...

TAGS: Illinois Department of Insurance