Cost of Illinois’ education bureaucracy crowds out classroom spending

By Adam Schuster

08/20/2019

More than 9,000 Illinois school district administrators earn more than $100,000 a year. Each of them will collect at least $3 million in pension benefits during retirement.

TAGS: education, municipal pensions, pension guarantee, pensions, rita mayfield, school district consolidation, school district efficiency

Nearly 40% of education spending consumed by pension costs

By Adam Schuster

08/13/2019

Growing pension costs for retired educators are quickly crowding the classroom out of Illinois budgets.

TAGS: municipal pensions, pension guarantee, pensions, school district consolidation, school district efficiency

Lake in the Hills approves over 9% hike to police pension levy

By Ben Szalinski

08/09/2019

The village will dedicate an estimated $1.5 million dollars to its police pension fund in 2019 – 9.17% more than it paid last year.

TAGS: Lake in the Hills, municipal pensions, pension guarantee, pensions, property taxes, taxes

Cook County home values down 31%, property taxes up 22% since 2007

By Bryce Hill

08/06/2019

Without true pension reform, property taxes are only bound to continue swamping Cook County homeowners.

TAGS: Chicago, Cook County, home values, municipal pensions, pension guarantee, pensions, property taxes, taxes

651 new Illinois public pensioners average $1.3M in estimated retirement benefits

By Adam Schuster

07/30/2019

Newly retired government workers’ lifetime pension benefits will far exceed what they contributed toward their own retirements

TAGS: municipal pensions, pension guarantee, pensions

Illinois pension buyout program delivers just 3% of projected savings

By Vincent Caruso

07/29/2019

A plan that allowed some pension enrollees to cash in early on their earned retirement benefits in exchange for curbing future benefits has so far generated only 3% of its expected savings.

TAGS: municipal pensions, pension guarantee, pensions, property taxes, SERS: State Employee Retirement System, SURS: State Universities Retirement System, taxes, TRS: Teachers’ Retirement System

Illinois state lawmakers 4th-highest paid in nation

By Bryce Hill

07/23/2019

The budget signed into law by Gov. J.B. Pritzker included a $1,600 pay raise for the Illinois General Assembly – which already collects the nation’s 4th-highest base salary for state lawmakers.

TAGS: budget, lawmaker pay, municipal pensions, pension guarantee, pensions, taxes

Chicago Teachers Union president threatens strike

By Tivas Gupta

07/22/2019

The Chicago Teachers Union is threatening to strike, as negotiations with the city begin to stretch into the coming school year. It would be the union’s third strike in seven years.

TAGS: Chicago, CPS: Chicago Public Schools, CTU: Chicago Teachers Union, Jesse Sharkey, Lori Lightfoot, municipal pensions, pension guarantee, pensions, teacher salaries

Illinois state lawmakers among highest paid in nation

By Ben Szalinski

07/16/2019

The Illinois General Assembly passed budget that included a $1,600 pay raise for state lawmakers, who already rank among the nation’s highest paid.

TAGS: budget, lawmaker pay, municipal pensions, pension guarantee, pensions, taxes

Pritzker’s AFSCME deal gives 12% automatic raises, $2,500 bonus to state workers

By Adam Schuster

06/26/2019

By continuing practices such as automatic raises and taxpayer-subsidized platinum health insurance, along with a new $2,500 bonus, the AFSCME contract will transfer more than $3.6 billion in additional compensation from taxpayers to state workers.

TAGS: AFSCME: American Federation of State County and Municipal Employees, JB Pritzker, labor, pension guarantee, pensions, state worker pay, taxes