Not only would a progressive income tax hike end up taking more money directly from all taxpayers’ pockets, but it would also have negative economic effects on jobs growth, after-tax income adjusted for cost of living, and overall economic output.View Report
Illinois’ high court ruled a former union employee who worked a single day in the classroom is eligible to receive a decade’s worth of teacher pension benefits.
The Teachers’ Retirement System pension fund board opposed Illinois Gov. J.B. Pritzker’s plan to repeat past mistakes. Here’s why they are right to oppose it.
According to recent data, Illinois spends nearly double the national average on pensions, measured as a percentage of all state and local government spending.
The average six-figure retiree contributed just over $160,000 toward their own pension over the course of their career.
The pension fund’s request for $4.8 billion in taxpayer contributions for the next budget year, a 10 percent increase from the previous year, highlights the need for pension reform in Illinois.
Pension reform is a moral imperative. The alternative is a future in which core services are cut, taxes are raised, and pensioners risk losing what they’ve already been promised as the funds go insolvent.
Illinois’ fiscal year 2019 spending plan includes reforms to discourage some irresponsible spending by local governments.
In the midst of Illinois’ pension crisis, River Forest District 90 has agreed to pay 100 percent of teacher contributions to the Teachers' Retirement System – and it did so secretly.
Former U.S. House of Representatives Speaker Dennis Hastert had been receiving nearly $30,000 annually from the underfunded General Assembly Retirement System.
Nearly 38 percent of Illinois Teachers Retirement System assets are in so-called alternative investments.