Former Gov. Edgar’s ‘compromise’ pension plan led to Illinois’ fiscal crisis

By Ted Dabrowski, John Klingner

06/09/2016

Under former Gov. Jim Edgar’s pension ramp, unfunded pension liabilities have increased nearly $100 billion despite taxpayers contributing $16.4 billion more to the five state-run pension systems than required under the Edgar plan.

TAGS: Jim Edgar, pensions

Weak investment returns for Chicago pensions highlight the need to end broken pension systems

By John Klingner

06/08/2016

Chicago’s four city-run pension funds’ poor returns on investment in 2015 are a good reminder why defined-benefit pensions are a failure for both taxpayers and government workers.

TAGS: Chicago, municipal pensions, pensions

Rahm’s police and fire pension “fix” becomes law

By John Klingner

05/31/2016

On May 30, the General Assembly voted to override Gov. Bruce Rauner’s veto of Chicago Mayor Rahm Emanuel’s plan to delay payments to Chicago’s police and fire pension funds – at a cost to Chicago taxpayers of an additional $18.6 billion over the next 40 years.

TAGS: Chicago, municipal pensions, pensions, Rahm Emanuel

Pension debt for Chicago city-worker pensions doubles to more than $21 billion

By Ted Dabrowski, John Klingner

05/23/2016

Thanks to new government reporting standards, Chicago’s municipal-workers and laborers pension funds’ debt doubled in 2015 to more than $21 billion. That’s $20,500 of pension debt per Chicago household.

TAGS: Chicago, municipal pensions, pensions

5 facts show IMRF is just as unsustainable as every other Illinois pension fund

By Ted Dabrowski, John Klingner

05/06/2016

The Illinois Municipal Retirement Fund’s relative health compared with other government-worker pension funds is only due to its ability to force localities to fund it at the expense of other pension funds and vital local services.

TAGS: IMRF: Illinois Municipal Retirement Fund, local government, municipal pensions, pensions

Hastert will continue receiving $28K pension from Illinois lawmakers’ pension fund

By Amy Korte

04/29/2016

Despite being sentenced to 15 months in prison for a financial crime intended to cover up his sexual abuse of high school students, former U.S. House Speaker Dennis Hastert will continue to receive $28,000 annual pension payments for his six years as an Illinois state representative.

TAGS: corruption, GARS: General Assembly Retirement System, pensions

Short-term state funding won’t fix Illinois’ systemic higher-education crisis

By John Klingner

04/27/2016

Illinois’ public colleges and universities used to be affordable, but schools have increased tuition from 74-112 percent over the last decade to help pay for administrative hiring sprees and skyrocketing pensions.

TAGS: higher education, pensions, SURS: State Universities Retirement System

Illinois Supreme Court ruling could give state workers more retirement options

By Ted Dabrowski

04/06/2016

Concept of “consideration” allows state workers to negotiate for new benefits and could pave a path toward pension reform.

TAGS: Chicago, Illinois Supreme Court, pensions

Fitch downgrades Chicago, cites Illinois Supreme Court ruling on pension reform

By John Klingner

03/28/2016

The city’s rating from Fitch is now just one notch above junk status.

TAGS: Chicago, credit rating, municipal pensions, pensions

Moody’s: Chicago pension-reform ruling means increased financial pressure, rapidly growing pension debt

By John Klingner

03/25/2016

The Illinois Supreme Court’s overturning of Chicago’s modest pension reform means Chicago faces higher pension contributions, rapidly growing pension debt and an increased risk of total insolvency for its pension funds.

TAGS: debt, pensions

pensions

Former Gov. Edgar’s ‘compromise’ pension plan led to Illinois’ fiscal crisis

Weak investment returns for Chicago pensions highlight the need to end broken pension systems

Rahm’s police and fire pension “fix” becomes law

Pension debt for Chicago city-worker pensions doubles to more than $21 billion

5 facts show IMRF is just as unsustainable as every other Illinois pension fund

Hastert will continue receiving $28K pension from Illinois lawmakers’ pension fund

Short-term state funding won’t fix Illinois’ systemic higher-education crisis

Illinois Supreme Court ruling could give state workers more retirement options

Fitch downgrades Chicago, cites Illinois Supreme Court ruling on pension reform

Moody’s: Chicago pension-reform ruling means increased financial pressure, rapidly growing pension debt

Chicago Forward 2026: A pro-growth plan to end city budget deficits

Report Archive

Diana Graham

Process for unionizing non-state workers raises red flags

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