Illinois General Assembly

Pension solutions: reforming retirement age

By Benjamin VanMetre, John Klingner

11/26/2013

THE PROBLEM Illinois’ $100 billion pension crisis is the worst in the nation. The Illinois General Assembly’s failed attempts to solve the pension crisis in the past have only perpetuated Illinois’ problem. Politicians have done nothing more than tinker at the margins of reform to avoid making tough decisions. The reality is minor changes won’t...

Pension solutions: Cost-of-living adjustments are supersizing state pensions

By John Klingner

11/26/2013

THE PROBLEM Illinois’ five state-run pension funds are more than $100 billion in debt, according to official state numbers. Without major reforms, the funds are headed toward insolvency – and that means retirees may see their pensions cut and younger workers may not have a pension at all. One of the biggest forces behind this...

Illinois’ unpaid bills higher today than when lawmakers passed the 2011 tax hike

By Benjamin VanMetre

11/25/2013

The Illinois General Assembly passed a record income tax increase on individuals and businesses in 2011. And Gov. Pat Quinn promised that it specifically was “designed to pay our bills.” By the end of the current fiscal year, lawmakers will have collected a total of $25.7 billion in new revenue from the 2011 tax hike....

TAGS: debt, ILGA: Illinois General Assembly, unpaid bills

Illinois term-limit petition halfway to 300K signature goal

By Brian Costin

11/22/2013

Illinois is one of only 11 states without term limits, but a constitutional referendum proposal to bring the proposed reform to Illinois met a significant milestone. From the Chicago Sun-Times: “Bruce Rauner’s Committee for Legislative Reform and Term Limits has already reached 150,000 petition signatures — the halfway mark to getting onto the Nov. 2014...

TAGS: Bruce Rauner, Committee for Legislative Reform and Term Limits, term limits

Illinois has lowest credit rating of all 50 states

By John Klingner

11/19/2013

Chicago’s recent triple-notch downgrade by Fitch Ratings is a stark reminder that Illinois’ inability to solve its pension crisis has consequences. Illinois has the lowest credit rating of all 50 states. In contrast, three of its neighbors have maintained their AAA rating from Standard & Poor’s Ratings Services. Illinois has suffered 13 downgrades from the...

TAGS: Chicago, credit rating, downgrade, pensions

Evanston’s opportunistic nanny state e-cigarette restrictions treat adults like children

By Bryant Jackson-Green

11/18/2013

E-cigarettes have become increasingly popular in recent years, particularly among smokers of traditional cigarettes looking to kick the habit by moving to a less harmful alternative. So why are Illinois governments wasting taxpayer dollars and time trying to make them harder to buy? The Evanston City Council recently jumped to regulate e-cigarettes under the same...

TAGS: ban, e-cigarettes, ecig, nanny state

Fitch Ratings: Chicago approaching “inflection point”

11/12/2013

Triple-notch credit downgrades for government entities are supposed to be rare. They normally happen only in response to major financial events, such as a sudden fiscal emergency. But Chicago just received its second triple-notch downgrade in just six months. And that spells trouble for Chicago taxpayers. Citing skyrocketing pension costs and a lack of meaningful...

TAGS: Chicago, Chicago Park District, Detroit, downgrade, pensions

Illinois General Assembly passes bill to help Teamsters who picketed funerals

11/12/2013

Since July, Illinois Teamsters have been on strike against funeral home operator Service Corporation International, or SCI, because SCI didn’t offer a contract that the union found satisfactory. At first, the Teamsters fought their battle by aggressively picketing funeral homes SCI owns in Illinois. Among other things, strikers at Illinois funeral homes reportedly blocked mourners...

TAGS: Service Corporation International, Teamsters, Tony Munoz

Parks and wreck

By Ted Dabrowski

11/07/2013

The Illinois General Assembly today approved a pension bill that requires taxpayers to pay an additional $75 million into the Chicago Park District pension fund in addition to tripling the taxpayer contribution to the troubled pension fund. Unfortunately, this bill is mistakenly being heralded by some as a potential model for pension reform. Make no mistake:...

TAGS: Chicago Park District, pensions, Rahm Emanuel

School district salaries left out of Illinois school report cards

By Brian Costin

11/04/2013

The Illinois General Assembly may consider much needed pension reform during the second week of fall veto session, which lasts Nov. 5 until Nov. 7. But they will have to do so without the latest teacher and administrator salary information affecting the state’s largest pension system, the Teachers’ Retirement System, or TRS. Last week the...

TAGS: Illinois State School Report Cards, ISBE: Illinois State Board of Education, TRS: Teachers’ Retirement System

FAQ: How the federal scholarship program would help Illinois students

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...

View Report