The 1%: Illinois’ pension millionaires

By Austin Berg

01/23/2020

More than 129,000 Illinois public pensioners will see expected payouts of $1 million or more during retirement.

TAGS: 401(k), government unions, Illinois, Illinois General Assembly, JRS: Judges’ Retirement System, pension, pension benefits, pension contributions, pension costs, pension crisis, pension debt, pension guarantee, pension obligations, pension reform, pension spending, pensions, private sector, public sector, public sector unions, SERS: State Employee Retirement System, Social Security, Springfield, SURS: State Universities Retirement System, tier 1, tier 2, TRS: Teachers’ Retirement System

Chicago area up 241K jobs, rest of Illinois down 41K jobs from before recession

By Austin Berg

01/21/2020

Illinois’ uneven recovery reflects national trends, but also raises important questions about the state’s economic future ahead of a key tax hike vote.

TAGS: BLS: Bureau of Labor Statistics, capital gains, capital investment, Chicago, corporate income tax, economic competitiveness, economy, graduated income tax, Great Recession, Illinois, Illinois General Assembly, industry, investment, investment returns, JB Pritzker, jobs growth, labor, labor cost, minimum wage, outmigration, pass-through, population, population loss, progressive income tax, progressive tax, property, real estate, recession, recovery, Springfield, tax competitiveness, tax hikes, tax increase

State worker who allegedly kept ‘mouth shut’ about ‘rape in Champaign’ to receive $2.7M in pension payments

By Austin Berg

01/20/2020

House Speaker Mike Madigan has built a substantial political army through taxpayer-funded promises.

TAGS: amendment, Champaign, constitutional amendment, debt, Forrest Ashby, Illinois, Illinois Constitution, Illinois General Assembly, JB Pritzker, Michael McClain, Mike Madigan, Mike McClain, pension benefits, pension contributions, pension costs, pension crisis, pension debt, pension obligations, pension reform, pension spending, pensions, rape, Springfield

Illinois pensions 101: Paltry contributions yield million-dollar payouts

By Adam Schuster

01/17/2020

Across all five state retirement systems, typical career workers pay for about 5% of the cost of their pension benefits. They receive an average of $1.7 million to $3.6 million.

TAGS: Edgar Ramp, fire pensions, firefighter pensions, GARS: General Assembly Retirement System, government employees, government services, government unions, government workers, IEA-NEA: Illinois Education Association, IFT: Illinois Federation of Teachers, Illinois, Illinois Constitution, Illinois General Assembly, Jim Edgar, JRS: Judges’ Retirement System, municipal government, municipal pensions, pension, pension benefits, pension contributions, pension costs, pension crisis, pension debt, pension guarantee, pension obligations, pension reform, pension spending, pensions, police pensions, public safety pensions, public sector, public sector unions, public unions, retirement, retirement age, Rod Blagojevich, SERS: State Employee Retirement System, Social Security, social services, Springfield, SURS: State Universities Retirement System, tax hikes, tax increase, tier 1, tier 2, TRS: Teachers’ Retirement System

Indiana has seen more single-family homes than Illinois for 10 years in a row

By Austin Berg

01/13/2020

Indiana has around half the population of Illinois. But its building new homes at a rate more than 60% higher.

TAGS: construction, development, Great Recession, Illinois, Illinois General Assembly, Indiana, JB Pritzker, pension costs, pension crisis, pension debt, pension reform, pension spending, pensions, property taxes, recession, single-family home, Springfield

Bill would stop Pritzker from paying state workers on the side

By Brad Weisenstein

01/12/2020

Illinois Gov. J.B. Pritzker has used his private fortune to pay $3 million in state expenses, including boosting salaries of 16 top staffers. Some lawmakers want the ‘unethical’ practice to stop.

TAGS: bipartisan, clout, conflict of interest, corruption, fair maps, house rules, Illinois, Illinois Constitution, Illinois General Assembly, independent maps, JB Pritzker, lawmaker pay, lawmakers, Legislative Inspector General, legislative map, lobbying, lobbyists, mapmaking, revolving door, salary increase, Smart Scale, Springfield, watchdog

Madigan celebrates 35th anniversary as Illinois House speaker

By Austin Berg

01/12/2020

Illinoisans will soon cast a vote on the biggest ballot question in the history of Madigan’s record-breaking speakership.

TAGS: anniversary, credit rating, Daley, debt, fair tax, FBI, federal investigation, graduated income tax, house rules, House Speaker, Illinois, Illinois Constitution, Illinois General Assembly, junk credit rating, legislative map, lobbying, lobbyists, mapmaking, Mike Madigan, patronage, pension crisis, pension debt, population loss, progressive income tax, progressive tax, property taxes, redistricting, Richard Daley, Springfield, tax burden, U.S. Census Bureau

Illinois Tollway overcharged drivers $152K last year by not giving change

By Brad Weisenstein

01/10/2020

The Illinois Tollway is spending $33 million on toll machines, some of which can’t make change. The state agency’s legacy is broken promises, political patronage and overcharging Illinoisans.

TAGS: Bruce Rauner, cash register, cashier, change, corruption, George Ryan, I-Pass, Illinois, Illinois General Assembly, Illinois State Toll Highway Commission, Illinois Tollway, Jim Edgar, Jim Thompson, Rod Blagojevich, Springfield, tollway, transaction

Illinois personal income growth 2nd lowest in U.S. since Great Recession

By Bryce Hill

01/09/2020

Only Mississippi has fared worse than Illinois in personal income growth since the Great Recession hit at the end of 2007. Analysis shows state income taxes matter.

TAGS: corporate income tax, flat is fair, flat tax, graduated income tax, Great Recession, Illinois, Illinois General Assembly, income, income growth, income tax, JB Pritzker, labor, labor force, marginal tax, personal income, population, population growth, population loss, progressive income tax, recession, Springfield, tax burden

Illinois cannabis taxes among nation’s highest, could keep black market thriving

By Austin Berg

01/09/2020

Springfield lawmakers have yet to learn the lesson that money walks. And it’s not just to other states. Sometimes, it walks past the legal dispensary with a 40% tax rate and into a dealer’s house.

TAGS: black market, Chicago, Cook County, decriminalization, high taxes, Illinois, Illinois General Assembly, legalization, marijuana, medical marijuana, recreational marijuana, Springfield, tax burden, taxes, THC

Power in payments: Illinois can help unbanked residents, save money by adopting best practices in payment methods

Each year, tens of billions of dollars flow through Illinois state government.1 These flows all depend on methods of payment. In deciding on those payment methods, policymakers must consider a number of important factors, including security controls, cost effectiveness, accessibility, speed and allowance for choice. This report shows that by adopting best practices across all...

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Power in payments: Illinois can help unbanked residents, save money by adopting best practices in payment methods

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Ifeoma Nkemdi

Policy lessons from Illinois’ exodus of people and money

CBS Chicago: Illinois’ highest-paid superintendent receives $400K per year to oversee 1,200 students