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.
Illinois pensions 101: Paltry contributions yield million-dollar payouts
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.
Illinois Tollway overcharged drivers $152K last year by not giving change
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.
Former Chicago official had side job with red-light camera company
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.
CTBA pension plan: Unsound, unfair and unaffordable
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.
58 former Illinois state lawmakers collecting six-figure pensions
Former lawmakers receive generous benefits from the state’s worst-run retirement fund.
Damage from Edgar ramp obscured by dotcom boom
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.
Former Gov. Edgar’s ‘compromise’ pension plan led to Illinois’ fiscal crisis
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.
Five reasons why Madigan’s pension fix is a step backward
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...