Illinois House Speaker Mike Madigan’s power over Illinois politics is more precarious than ever. A steady stream of federal investigations, wiretaps and raids of people close to him, a deferred prosecution agreement with Commonwealth Edison wherein the utility giant admitted to bribing the speaker, and a grand jury subpoena served to Madigan’s office have led...View Report
Illinois’ broken pension system puts $100,000 a year or more into the hands of 62 former state lawmakers. It has paid more than $1 million to 94 of them.
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.
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.
The former deputy aviation commissioner had an undisclosed position as a sales representative for SafeSpeed LLC. The red-light camera vendor keeps emerging in federal probes.
A pension plan pushed by one Illinois think tank fails to reform the state’s broken pension system and risks repeating costly mistakes. Gov.-elect J.B. Pritzker shouldn’t be fooled and should instead endorse meaningful, lasting reform.
Former lawmakers receive generous benefits from the state’s worst-run retirement fund.
Former Gov. Jim Edgar’s pension compromise with House Speaker Mike Madigan in the 1990s set the state’s pension funds down an unsustainable road.
Under former Gov. Jim Edgar’s pension ramp, unfunded pension liabilities have increased nearly $100 billion despite taxpayers contributing $16.4 billion more to the five state-run pension systems than required under the Edgar plan.
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...