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.
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.
Politicians have proven incapable of making the decisions required to maintain the health of Illinois’ pension systems, as they lack the knowledge and actuarial understanding to do so.
Illinois students could soon benefit from scholarship money to help them find a tutor, attend ACT or SAT prep sessions, pay tuition, get special education services or assist with other academic needs. That will happen in Illinois only if Gov. J.B. Pritzker lets the state’s schoolchildren benefit from the Federal Scholarship Tax Credit program, established...