Illinois voters soundly rejected a progressive state income tax because it was a path to tax retirees. That isn’t stopping state lawmakers from trying again.

Illinois retirees would pay $2,482 in state income taxes if “fair tax” targets them

By Bryce Hill

10/30/2020

Members of Pritzker’s administration, advisors and lawmakers have suggested a progressive income tax should tax retirement income in Illinois.

TAGS: fair tax, JB Pritzker, retirement tax

Progressive income tax study guide

By Orphe Divounguy, Adam Schuster, Bryce Hill

08/27/2020

Illinois Gov. J.B. Pritzker calls it the “fair tax.” Opponents say it’s a “blank check” for irresponsible spending. Here’s what you need to know.

TAGS: ballot referendums, California, Connecticut, corporate income tax, fair tax, general election, graduated income tax, ILGA: Illinois General Assembly, Illinois, income tax, JB Pritzker, middle class, outmigration, Springfield

Every state with a progressive tax also taxes retirement income

07/02/2020

Illinois could be the next state to tax retirement income if voters approve the progressive income tax in November.

TAGS: progressive tax, retirement tax

Illinois treasurer says ‘fair tax’ makes retirement tax more likely

By Adam Schuster

06/24/2020

Illinois Treasurer Michael Frerichs said a progressive state income tax will open the door to taxing retirement income.

TAGS: pensions, progressive income tax, retirement tax

Illinois pensions 101: Paltry contributions yield million-dollar payouts

By Adam Schuster

01/17/2020

Across all five state retirement systems, typical career workers pay for about 5% of the cost of their pension benefits. They receive an average of $1.7 million to $3.6 million.

TAGS: Edgar Ramp, firefighter pensions, GARS: General Assembly Retirement System, government employees, government services, government unions, government workers, IEA-NEA: Illinois Education Association, IFT: Illinois Federation of Teachers, ILGA: Illinois General Assembly, Illinois, Illinois Constitution, Jim Edgar, JRS: Judges’ Retirement System, municipal government, municipal pensions, pension guarantee, pensions, police pensions, public sector, retirement age, Rod Blagojevich, SERS: State Employee Retirement System, Social Security, social services, Springfield, SURS: State Universities Retirement System, tax hikes, tax increase, TRS: Teachers’ Retirement System

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Illinois retirees would pay $2,482 in state income taxes if “fair tax” targets them

Progressive income tax study guide

Every state with a progressive tax also taxes retirement income

Illinois treasurer says ‘fair tax’ makes retirement tax more likely

Illinois pensions 101: Paltry contributions yield million-dollar payouts

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