Detroit’s recent bankruptcy is sending cities and states a warning: taxpayers shouldn’t be taken for granted. Unfortunately, Illinois’ long-term pension plan does exactly that. Springfield still believes that taxpayers are passive sources of revenue. While state worker contributions to Illinois’ five pension systems have gone up by 75 percent since 1998, taxpayer contributions have gone...

Suburban Chicago-based NorthShore University HealthSystem announced last month that it will “will freeze its employee pension plan as of Dec. 31 and shift all employees to a defined contribution savings plan.” The NorthShore hospital system isn’t the only private company making this move — Boeing, American Airlinesand Verizon each dropped their defined benefit plans for defined contribution retirement systems. The core...

Illinois has the nation’s worst-funded pensions. Each Illinois household can expect to pay more than $40,000 in additional taxes to cover the pension shortfall if no reforms are passed. The size of the pension crisis demands that state lawmakers pass the boldest reforms in the country. Fortunately, Illinois lawmakers can look to the examples other states have...