7 pension reforms that Illinois can still enact despite the SB1 ruling

By Ted Dabrowski, John Klingner

11/06/2015

Although the Illinois Supreme Court has ruled that altering pension benefits of current government workers violates the Illinois Constitution, there are still actions – from politicians voluntarily reforming their own pension system, to allowing municipal bankruptcy – that Illinois can take to set government-worker pensions on a more fiscally sound path.

TAGS: 401(k), pensions

Coming up short: What if Illinois’ pension funds miss their investment targets?

By Ted Dabrowski, John Klingner

11/02/2015

Without real reforms, low investment yearly returns of 4 to 6 percent over the next 28 years could cost Illinois taxpayers anywhere from $100 billion to $200 billion above what they’re already expected to pay in contributions.

Solving Illinois’ pension crisis

By Benjamin VanMetre, Ted Dabrowski

06/08/2015

Actuarial analysis offers options to transition to a defined-contribution retirement plan

Take note, Illinois: Transition costs not an issue in Pennsylvania’s pension reform

By Benjamin VanMetre

03/30/2015

Pennsylvania’s reform efforts mirror the national trend of modernizing public and private retirement systems with 401(k)-style defined-contribution plans.

TAGS: 401(k), GASB: Governmental Accounting Standards Board, self-managed plans

IL government workers trapped in failing pension funds; other states give workers options

By Benjamin VanMetre

01/29/2015

Utah passed a 401(k)-style reform plan in 2011. The state’s pension funds had a 50 percent chance of becoming insolvent by 2028 prior to the state’s reform plan – but the reform dropped that chance to 10 percent.

TAGS: 401(k), state worker pay

Pensions are contracts; nothing more, nothing less

By Benjamin VanMetre

01/22/2015

Illinois Policy Institute files amicus brief in SB 1 case

TAGS: ILGA: Illinois General Assembly, Illinois Constitution, Illinois Supreme Court, pensions, Senate Bill 1

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

How Bruce Rauner can stop the bleeding

By Benjamin VanMetre

11/13/2014

The governor-elect could deliver a blow to Illinois’ pension woes, with or without SB 1, by pushing for 401(k)-style plans.

TAGS: Bruce Rauner, budget, taxes

401(k)-style pension reform in Alaska

By Benjamin VanMetre

11/05/2014

In 2005, Alaska froze the state’s traditional defined-benefit pension plan and created a self-managed 401(k)-style retirement plan for new public employees and teachers.

TAGS: 401(k)

Illinois’ workforce hits new low in August, and it’s not because of retirements

By Michael Lucci

09/18/2014

Illinois continues to bleed workers, with another 19,000 Illinoisans dropping out of the workforce in the month of August alone, according to a press release from the Illinois Department of Employment Security, or IDES. As a result, Illinois’ labor force participation rate hit a new 35-year low in August. The state’s jobless rate fell from...

TAGS: labor

Alaska

7 pension reforms that Illinois can still enact despite the SB1 ruling

Coming up short: What if Illinois’ pension funds miss their investment targets?

Solving Illinois’ pension crisis

Take note, Illinois: Transition costs not an issue in Pennsylvania’s pension reform

IL government workers trapped in failing pension funds; other states give workers options

Pensions are contracts; nothing more, nothing less

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

How Bruce Rauner can stop the bleeding

401(k)-style pension reform in Alaska

Illinois’ workforce hits new low in August, and it’s not because of retirements

FAQ: How the federal scholarship program would help Illinois students

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