Illinois’ pension crisis keeps getting worse

By Ted Dabrowski
10/29/2013
Even if Illinois pension funds see investment returns that exceed expectations, that still won’t be enough to plug the largest fund’s hole. The Teachers’ Retirement System reported its pension underfunding grew to $55.73 billion as of June 30, 2013 — an increase of more than $3.5 billion since the end of the previous fiscal year...

TAGS: 401(k), COGFA, Dick Ingram, SURS: State Universities Retirement System, TRS, TRS: Teachers’ Retirement System

Pension reform: Time to means test COLAs

By Ted Dabrowski
10/15/2013
Illinois’ pension conference committee is once again rumored to be nearing a “fix” for the state’s pension mess. But if the pension conference committee is serious about saving the pensions of state retirees and workers who have dedicated their careers to public work, they will put an end to cost-of-living-adjustments, or COLAs, for government retirees...

TAGS: COLA, GARS, GARS: General Assembly Retirement System, JRS, JRS: Judges’ Retirement System, SERS: State Employee Retirement System, SURS: State Universities Retirement System, TRS, TRS: Teachers’ Retirement System