The State Journal Register’s recent editorial critiquing the Illinois Policy Institute’s study, The crisis hits home: Illinois’ local pension problem, was disappointing on many fronts. The city of Springfield performed dismally in the Institute’s statewide audit, which measured ten different metrics to arrive at a comprehensive picture of a city’s fiscal health. Springfield scored worst among the state’s...

In December 2013, a pension reform bill passed out of the Illinois General Assembly. Sponsors of the bill estimated $160 billion in savings over the next 30 years, and supporters touted that the pension problem in Illinois was finally fixed. In fact, most of the dialogue throughout the Capitol was that the state-funded pension systems...

Illinois’ collapsing state pension systems are seen as the poster child of pension crises across the nation. But another pension crisis is taking place even closer to home. There are nearly 650 locally run pension funds in Illinois, which cover retired police officers and firefighters, along with one consolidated fund for municipal retirees. These municipal...