pensions

Unions to bankrupt Chicago pension funds

By Benjamin VanMetre

12/29/2014

A group of Chicago unions, including AFSCME Council 31 and the Chicago Teachers Union, have sued the city over a recent attempt to reform two of the city’s four pension funds.

TAGS: Chicago, CTU: Chicago Teachers Union, pensions, unions

Allegheny Technologies to modernize retirement benefits with 401(k)-style plan

By Benjamin VanMetre

12/18/2014

Allegheny Technologies is making the switch to a 401(k)-style plan despite the fact that the company’s defined-benefit plan is currently 87 percent funded. Regardless of how well funded some defined-benefit plans can be, the plans are no longer affordable or sustainable.

TAGS: 401(k), pensions

Rauner named most important pension player in the nation

By Benjamin VanMetre

12/16/2014

There’s a reason Bruce Rauner topped Institutional Investor’s Pension 40 list – he has the potential to fix the nation’s worst pension crisis.

TAGS: 401(k), Bruce Rauner, pensions, Senate Bill 1

IL Supreme Court expedites pension battle

By Benjamin VanMetre

12/12/2014

The expedited hearing is good news. It means the state will know specifically what it can do to address its $111 billion unfunded pension debt sooner rather than later.

TAGS: pensions, Senate Bill 1, U.S. Supreme Court

With costs on the decline, 401(k)s increasingly attractive

By Ted Dabrowski

12/11/2014

The list of reasons for denying government workers the benefits of 401(k)-style plans in favor of politician-controlled pensions is short at best, and it’s growing shorter every day.

TAGS: 401(k), Chicago, pensions

Barnes & Noble continues efforts to close defined-benefit pension plan

By Benjamin VanMetre

12/10/2014

In 1985, only one in 10 Fortune 100 companies offered 401(k)-style plans to new employees. Today, that number has increased to seven in 10.

TAGS: 401(k), defined benefit plans, pensions

The cost of Illinois’ broken pension systems: per-employee retirement contributions 4 times the private sector

12/09/2014

Illinois state government contributes the equivalent of 35 to 127 percent of government-worker salaries to keep its pension systems above water.

TAGS: budget, pensions, taxes

Chicago, the state and the pension-law debate

By Robert Steere

12/01/2014

Few options remain as Illinois governments confront budget-busting pension obligations.

TAGS: budget, Chicago, pensions, taxes

Moody’s: Illinois an outlier in pension debt

By Benjamin VanMetre

11/26/2014

Illinois ranks worst in the nation on ability to pay for its pension debt.

TAGS: budget, Chicago, Illinois Constitution, pensions, Senate Bill 1, taxes

Court: state employees’ constitutional rights are stronger than yours

11/21/2014

Pension recipients should not be treated as a privileged class of citizens.

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Pathway to a Profession: How Apprenticeships Could Reshape Illinois’ Beauty Service Industry

Occupational licensing requirements present one of the steepest barriers to low-income Illinoisans starting careers in beauty services. Illinois requires anyone seeking to become a barber, cosmetologist, nail technician or hair braider to obtain a state license, essentially a permission slip to work. Unlike 45 other states, Illinois offers only one pathway to licensure for each...

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