Only 51 percent of black adults reported having some form of work in Illinois.View Report
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.
Illinois state Rep. Barbara Flynn Currie has introduced a pension bill that is unfair to new and current workers, is potentially unconstitutional, bails out Chicago Public Schools’ pensions, and perpetuates Illinois’ broken pension system.
State Sen. Dale Righter, R-Mattoon, has proposed a plan that would give all state workers access to retirement plans that offer portability and flexibility – and an escape from Illinois’ broken pension system.
Illinois has been using its teachers as a piggy bank.
Illinois needs to enact structural spending reforms to avoid following Puerto Rico down the path to insolvency.
Credit rating agencies have warned Illinois’ credit could slide into junk territory if the legislative session ends in May without a budget deal to get the state’s finances back on track.
Government worker retirement costs and interest on state retirement debt are squeezing out funding for social service providers and taxpayer relief.
Nearly 38 percent of Illinois Teachers Retirement System assets are in so-called alternative investments.
Illinois’ teacher pension system is structured to allow local school boards to agree to generous contracts, knowing taxpayers across the state will foot the bill. This system should change so that local school boards cover their own pension costs. That way, they will bear the full cost of salary increases they decide on, rather than pushing much of that cost onto unaware state taxpayers.
Since 1998, more than 20,000 state university workers have opted into a 401(k)-style plan instead of the traditional pension plan.