Jeanne Ives

Capitol Updates: Special session

By Jane McEnaney
06/19/2013
In early June, Gov. Pat Quinn called lawmakers to return to Springfield on June 19 for a one-day special session on pension reform. This came in the wake of yet another downgrade of Illinois’ credit as a result of inaction on pension reform when the legislative session adjourned on May 31. Our most recent knocks from Moody’s Investors Service and Fitch Ratings  mark Illinois’ 12th...

Illinois pension debt to double as new Moody’s methodology kicks in

06/17/2013
It’s taken as fact that Illinois’ five state-run pension systems have a $100 billion funding shortfall. That’s what the official reports say. But all that’s about to change. Moody’s Investors Service is making good on its promise to evaluate state pension plans on more realistic assumptions. The rating agency has long critiqued the pension funds’...

TAGS: credit rating, pensions

The path forward on pension reform: A fair solution for all stakeholders

By Chris Andriesen
06/16/2013
State Reps. Tom Morrison (R-Palatine) and Jeanne Ives (R-Wheaton) have proposed House Bill 3303, which is based the Institute’s pension reform plan. State Sen. Jim Oberweis (R-Sugar Grove) introduced a floor amendment to Senate Bill 2026, which is identical to House Bill 3303. The problem Illinois has the nation’s worst-funded pension systems. The unfunded liability currently stands at more...

Illinois lawmakers still shopping without price tags

By Jane McEnaney
06/15/2013
In March, the Illinois Policy Institute released a report on the lack of fiscal notes – or legislative “price tags” – on legislative bills that passed the 97th General Assembly. Fiscal notes estimate the costs, savings and revenue gain or loss resulting from the implementation of proposed legislation. Crafted properly, fiscal notes can provide a wealth of...

State Universities Retirement System option provides model for Illinois pension reform

By Benjamin VanMetre
06/14/2013
The Illinois General Assembly is gearing up for a special session to discuss pensions next week because of lawmakers’ reform inaction during the recent spring session, which resulted in back-to-back credit rating downgrades. The debate during session will likely be over which of two plans will solve Illinois’ crisis – House Speaker Mike Madigan’s proposal or the one...

Lawmakers fail to act on government collective bargaining legislation

06/08/2013
by Paul Kersey In the wake of the end of spring legislative session, it has become clear that the General Assembly left itself a lot of unfinished business for next year. Aside from failing to act on pensions and passing another budget with numbers that don’t add up, Illinois lawmakers also failed to make the...

Illinois General Assembly continues to ignore the basics of good public policy

06/06/2013
by Ben VanMetre Illinois has a spending problem. State government spending has grown at three times the rate of inflation since 1990. Despite Illinois’ existing balanced budget requirement, the state hasn’t had a balanced budget since 2001. That’s because political leadership in Illinois has been ignoring the basics of good public policy for decades. Lawmakers had the...

Capitol Updates: May 6 week in review

By Jane McEnaney
05/11/2013
Both chambers were in session this week in Springfield. Moratorium on virtual schools passes out of committee On Tuesday afternoon, House Bill 494 passed out of the Senate Subcommittee on Charter Schools and was subsequently approved by the full Senate Education Committee. The Illinois Policy Institute’s Executive Vice President Kristina Rasmussen and Director of Education Reform Josh Dwyer attended both...

Capitol Updates: April 29 week in review

By Jane McEnaney
05/03/2013
This was an eventful week in Springfield with both chambers in session. Virtual charter school moratorium bill moves to Senate subcommittee The Senate Education Committee did not hear House Bill 494 during its hearing on Tuesday, so the Illinois Policy Institute’s Vice President of Policy, Ted Dabrowski, was unable to testify in opposition to the bill as planned. Instead,...