Jim Oberweis

Capitol Updates: lawmakers push off pension reform in favor of ‘pension conference committee’ during special session

By Jane McEnaney
06/20/2013
State lawmakers were in Springfield yesterday for a special session ordered by Gov. Pat Quinn. As expected, the General Assembly did not take formal votes on any pension reform legislation. Instead, Quinn called for the formation of a conference committee, with the intention of resolving the differences between the House and Senate on pension reform. As a means of breaking up...

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...

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...

Moody’s warns Illinois credit rating could fall without pension reform

05/31/2013
In what’s become a habit for Moody’s Investors Service, the credit rating agency warned today that Illinois faces more credit downgrades if it fails once again to reform its state-run pension systems. The state already has the lowest credit rating in the nation. This means Illinois pays more to borrow money than any other state. But what’s...

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,...

Lessons from the Edgar plan: Why defined benefits can’t work

By Ted Dabrowski
04/30/2013
The problem The blame for Illinois’ pension crisis is often laid at the feet of state politicians who supposedly “skipped” payments and caused the state’s five pension systems to be underfunded. This has prompted legislators to add a “funding guarantee” to the current crop of pension reforms bills in order to stop any future pension...

Capitol Updates: April 22 week in review

By Jane McEnaney
03/31/2013
It was a quiet week in Springfield as the Illinois Senate was the only chamber in session. Here’s what took place: Virtual charter school moratorium bill assigned to substantive committee On Wednesday, the Senate Assignments Committee referred House Bill 494 to the Senate Education Committee, where it is scheduled to be heard next Tuesday, April...

TAGS: Illinois Statehouse, virtual learning

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Chicago Forward 2026: A pro-growth plan to end city budget deficits

Chicago’s $1.15 billion projected budget gap is the latest in a decades-long string of structural deficits. Making Chicago’s high taxes worse is not the solution.

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Diana Graham

Process for unionizing non-state workers raises red flags

By Paul Kersey
06/19/2014

CBS Chicago: Illinois’ highest-paid superintendent receives $400K per year to oversee 1,200 students

By Ted Dabrowski
05/02/2016