Michigan introduces 401(k)-style plan for teachers

By Ted Dabrowski, John Klingner

06/16/2017

With the successful passage of 401(k)-style pension reform in Michigan’s state legislature, Illinois lawmakers should examine their own growing pension crisis and pursue bolder reforms to stabilize the state’s finances.

TAGS: 401(k), Michigan, pensions

7 reasons the Illinois Republicans’ budget plan fails taxpayers

By Craig Lesner, John Klingner

06/16/2017

The budget plan proposed by Republican General Assembly members would raise taxes by over $5 billion without enacting any significant spending reforms.

TAGS: Bruce Rauner, budget, education, grand bargain, Illinois House of Representatives, income tax, Jim Durkin, pensions, property taxes

House Republicans’ pension plan not the solution Illinois needs

By John Klingner, Ted Dabrowski

06/15/2017

Illinois needs to begin an end to its pension crisis by expanding access to a standalone 401(k)-style plan to all government workers; the new proposal by the House GOP does not accomplish this.

TAGS: 401(k), Barbara Flynn Currie, Illinois House of Representatives, Jim Durkin, John Cullerton, pensions

Pennsylvania introduces 401(k)-style plans for government workers

By Ted Dabrowski, John Klingner

06/12/2017

The size of Illinois’ pension crisis requires even bolder pension reform that includes 401(k)-style plans for public employees.

TAGS: 401(k), Dale Righter, Jeanne Ives, pennsylvania, pensions

Illinois’ pension debt grew by $25B during 2011 income tax hike

By Michael Lucci

06/07/2017

Despite $30 billion in extra tax revenue, the politicians who passed Illinois’ 2011 income tax hike failed to solve Illinois’ pension crisis or pay off the state’s bill backlog.

TAGS: income tax, pensions, taxes

Bill preventing pension double dipping awaits Rauner’s signature

By Joe Kaiser

06/02/2017

House Bill 418 would prevent retired police officers from double dipping in the Illinois Municipal Retirement Fund, which has placed a burden on taxpayers at the local level.

TAGS: Grant Wehrli, IMRF: Illinois Municipal Retirement Fund, Michael Connelly, municipal pensions, pensions

Fact-checking Madigan: Rauner’s agenda is packed with budgetary items

By Michael Lucci

06/01/2017

Though Illinois Democrats insist Gov. Bruce Rauner’s reform agenda has nothing to do with the state’s budget, Rauner’s original proposed spending reforms would allow the state to balance its budget without hitting up taxpayers for more revenue.

TAGS: Bruce Rauner, budget, collective bargaining, consolidation, local government consolidation, Mike Madigan, pensions, prevailing wage, workers compensation

Illinois government workers who switch careers can lose big chunk of retirement savings

By Ted Dabrowski, John Klingner

06/01/2017

Pensions punish government workers who leave state employment early. 401(k)s don’t.

TAGS: 401(k), pensions, self-managed plans

Madigan, Cullerton will hit the pension lottery

By Austin Berg

06/01/2017

After just one year of retirement, Madigan’s annual pension will shoot up to more than $130,000.

TAGS: GARS: General Assembly Retirement System, John Cullerton, Mike Madigan, pensions

Cullerton bill takes wrong approach to Illinois pension reform

By Ted Dabrowski, John Klingner

05/19/2017

Illinois Senate President John Cullerton’s pension bill could be unconstitutional, is unfair to workers and based on unproven math, and perpetuates Illinois’ broken pension system.

TAGS: Illinois Senate, John Cullerton, pensions