Despite the smaller relative size of its burden, Kentucky is considering making far more comprehensive changes to its public sector retirement systems than Illinois ever has.
While borrowing to help pay down the state’s unpaid bill backlog will save money on interest payments and relieve pressure on those waiting for cash, it also perpetuates Illinois’ spending problem.
The new taxes are planned to pay for road maintenance and improvement as well as general use. As is the case in communities throughout Illinois, pension costs are crowding out other spending in Oswego.
Communities across Illinois are being forced to cut local services and raise taxes to afford their pension payments, putting residents who rely on local government services at risk because of the inherent failures of defined-benefit plans.
The new law is a step toward more fairness within Illinois’ police pension system, while offering certain police officers more control over their retirements.
Thousands of East Aurora students will be able to take buses to school for the first time, but the community still stands as an example of how school district decisions don’t always prioritize students.
The Harvey, Illinois, firefighters’ nearly bankrupt pension fund makes up just one part of Illinois’ combined $267 billion in state and local pension liabilities.
Charter schools are intended to offer families more options in the public school system, but Illinois law often restricts and undermines the autonomy with which they were designed.