Illinois’ pension crisis has been a growing problem for decades, and its negative effects on state residents are well documented.1 Economic fallout from the COVID-19 pandemic and related government shutdown orders threaten to bring that long-running crisis closer to its breaking point. The state’s five pension systems collectively held nearly $139 billion of debt at...View Report
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.
Many Illinois municipalities have voted to ban or restrict marijuana sales when it becomes legal for sale. Here’s a list of where pot will, won’t and might be legally bought.
More than half of the full-time village workforce takes home total compensation over $100,000 annually.
East St. Louis’ police and fire pension funds experienced large funding shortfalls in 2016, putting the city at risk of revenue garnishment from the state comptroller’s office.
A 2018 budget proposal for Elgin includes a new gas tax, an increase in water and sewer rates, and other tax hikes.
As its population and tax base erode, the city of Decatur passed a budget for fiscal year 2018 more than $3 million in the red.
Palatine homeowners will see higher property tax bills in order to pay for higher local pension costs, as well as a dip in state funding.
Lucrative compensation for government workers stands in stark contrast to the city’s budgetary struggles and a flagging local economy.
The new taxes are planned to pay for road maintenance and improvement as well as general use. As is the case in communities throughout Illinois, pension costs are crowding out other spending in Oswego.
A decade-old, 18-story, taxpayer-funded hotel in the village of Lombard is headed for bankruptcy, proving to be a misguided investment of taxpayer dollars.