REPORTS Pension Solutions: reforming retirement age More than 50% of Illinois government pensioners retired at age 59 or younger. Read more… Pension Solutions: cost-of-living adjustments are supersizing state pensions More than 8,000 Illinois government retirees receive more than $100,000 in annual pension benefits. Read more… Illinois’ pension system lacks transparency Actuarial data need to be...

Illinois legislators and local officials could learn a thing or two from California cities that have buckled under the weight of too much debt. The first is if they don’t implement reforms early enough, bankruptcy for the city of Chicago and other municipalities may be unavoidable. In California, both Stockton and San Bernardino were forced...