Illinois House Speaker Mike Madigan’s power over Illinois politics is more precarious than ever. A steady stream of federal investigations, wiretaps and raids of people close to him, a deferred prosecution agreement with Commonwealth Edison wherein the utility giant admitted to bribing the speaker, and a grand jury subpoena served to Madigan’s office have led...View Report
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.
Pensions punish government workers who leave state employment early. 401(k)s don’t.
Since 1998, more than 20,000 state university workers have opted into a 401(k)-style plan instead of the traditional pension plan.