Illinois cities take on more debt to cope with pensions

04/14/2022

Pension deficits are causing communities to consider more borrowing – and gambling with the proceeds – as pensions continue to consume bigger shares of budgets.

TAGS: Illinois, local government, pension obligation bonds

Illinois may borrow $1B for pension buyouts

By Adam Schuster, Patrick Andriesen

02/09/2022

Illinois lawmakers might borrow $1 billion to extend pension buyout programs until 2026. Experts warn the efforts have been a disappointment and will do little to ease Illinois’ worst-in-the-nation pension crisis.

TAGS: debt, Illinois, pension obligation bonds

5 things wrong with Illinois holding 30% of U.S. pension bond debt

By Adam Schuster, Aneesh Bafna

09/10/2021

Pension obligation bonds, like payday loans, are a sign of mismanaged finances. Illinois not only leads the nation for using that risky debt, it owes the bulk of it.

TAGS: credit rating, debt, Illinois, pension obligation bonds

FAQ: How the federal scholarship program would help Illinois students

Illinois students could soon benefit from scholarship money to help them find a tutor, attend ACT or SAT prep sessions, pay tuition, get special education services or assist with other academic needs. That will happen in Illinois only if Gov. J.B. Pritzker lets the state’s schoolchildren benefit from the Federal Scholarship Tax Credit program, established...

View Report

pension obligation bonds

Illinois cities take on more debt to cope with pensions

Illinois may borrow $1B for pension buyouts

5 things wrong with Illinois holding 30% of U.S. pension bond debt

FAQ: How the federal scholarship program would help Illinois students

Report Archive

Diana Graham

Process for unionizing non-state workers raises red flags

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