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

Taxed out: 10 reforms to stop Illinois from losing people and jobs

Illinois’ tax code stands in the way of the state’s economic competitiveness. The combination of high tax burdens and a poor tax structure contributes to the loss of jobs and investment to other states. From a place of former economic dominance, Illinois now ranks 45th in gross state product (GSP) growth over the past decade...

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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

Taxed out: 10 reforms to stop Illinois from losing people and jobs

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Process for unionizing non-state workers raises red flags

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