Illinois General Assembly

Illinois’ pension system lacks transparency

By Paul Kersey
10/16/2013
THE PROBLEM The story of Illinois pensions over the last 20 years is full of reforms that were supposed to put the five state-run government pension systems on sound footing, but failed once they were implemented. Despite repeated attempts at a solution, the state’s official pension debt has jumped to nearly five times what it was in 1995. Taxpayers and...

TAGS: 401(k), COGFA: Commission on Government Forecasting and Accountability, COLA: cost of living adjustment, IDOI: Illinois Department of Insurance, ILGA: Illinois General Assembly, Jim Edgar, market discount rates, pensions, retirement age

Shrinking the Illinois Senate

By Brian Costin
10/08/2013
With 42,336 elected officials as of 1992, Illinois has nearly 12,000 more state and local elected politicians than any other state. Amazingly, with this unprecedented wealth of legislators Illinois hasn’t been able to adequately address some of its most dire problems. Illinois still ranks near the bottom of the nation in numerous key economic indicators,...

TAGS: term limits

State pension contributions: Taxpayers bear the brunt of increasing pension costs

By John Klingner
09/25/2013
The problem A common refrain sounded by public sector unions is that government workers have consistently “paid their share” into Illinois’ pension systems and the state has not. However, the facts tell a different story. While government worker contributions to Illinois’ five pension systems have increased by 75 percent since 1998, taxpayer contributions have increased...

TAGS: GARS: General Assembly Retirement System, JRS: Judges’ Retirement System, SERS: State Employee Retirement System, SURS: State Universities Retirement System, TRS: Teachers’ Retirement System

Term limits puts career politicians and lobbyists on notice

By Brian Costin
09/24/2013
Despite their rationale, critics who oppose term limits are siding with the status quo, which not only keeps intact all-powerful political dynasties but also preserves special-interest lobbyists’ relationships with legislators. Christopher Mooney is one such critic, as he made clear in his recent anti-term limits editorial in Crain’s Chicago Business. By opposing term limits, Mooney isn’t...

TAGS: term limits

Term-limits referendums are overwhelmingly successful

By Brian Costin
09/23/2013
Republican gubernatorial candidate Bruce Rauner is championing a term-limits referendum proposal to amend the Illinois Constitution. If the measure is successful, it would limit terms in the Illinois General Assembly to eight years. The proposal has three major hurdles to pass to become law. It must: Gather more than 300,000 signatures to appear on the ballot Survive...

Copper-plated doors tip of iceberg in wasteful spending

By Brian Costin
09/14/2013
With unpaid bills exceeding $8 billion, long-term debt surpassing $200 billion and the worst credit rating in the nation, revelations that the “broke” state of Illinois spent $670,000 on copper-plated doors and another$500,000 for chandeliers and sculptures for the Capitol in Springfield is an embarrassment for the entire state. Earning bad press and the scorn of angry taxpayers still reeling from the 2011 income...

Illinois’ unpaid bills will exceed $8 billion this month

By Benjamin VanMetre
09/05/2013
The Illinois General Assembly passed a record income tax increase on individuals and businesses in 2011. And Gov. Quinn promised that it specifically was “designed to pay our bills.” Nearly three years and $18 billion in new tax revenue later, Illinois’ unpaid bills are still growing. Illinois Comptroller Judy Baar Topinka estimates that Illinois’ 2013...

Tattered union label

By Paul Kersey
08/31/2013
Unions exist to give workers greater leverage in negotiating over compensation and working conditions, and to give them some protection from unfair treatment at the hands of management. If union officials are doing their jobs well, workers should be receiving better wages and benefits, and should be more secure in their jobs. But that’s not...

To help small businesses, Illinois should make LLC fees fair

08/16/2013
If you want to start a small business in Illinois, there are different forms your new business can take. For example, you can have a sole proprietorship, a partnership, a corporation or a limited liability company, or LLC. The LLC is a relatively recent innovation that has advantages over the corporate form, and it can...

Quinn signs budget transparency legislation

By Matt Paprocki
08/16/2013
Today, Gov. Pat Quinn signed two pieces of legislation that result in greater budget transparency. The bills – House Bill 2947 and House Bill 2955 – which have both passed out of the Illinois General Assembly, mandate that the governor’s office posts the Illinois state budget online, and specifically identifies if there a budget surplus or a deficit within...