Regional Transportation Authority

Why are Illinois Democrats preparing to bail out bankers and cash-strapped local governments?

By Michael Lucci
04/03/2017
Bailout bills moving in the Illinois General Assembly would attempt to turn Illinois’ massive debt problems into guaranteed profits for banks and bondholders and a lower standard of living for other Illinoisans.

TAGS: bonds, budget, CTA: Chicago Transit Authority, general obligation bonds, grand bargain, John Cullerton, LGDF: Local Government Distributive Fund, property taxes, RTA: Regional Transportation Authority

Each Illinois household on the hook for $56K in government-worker retirement debt

By Ted Dabrowski, John Klingner
03/23/2017
In 2010, the unfunded debt related to pensions and retiree health care costs for local and state government workers across Illinois was $203 billion, the equivalent of more than $43,000 per household. In just six years, the total debt Illinois households are on the hook for has jumped to $56,000, or 31 percent. That’s a $13,000 increase for each household. Total unfunded debt for state and local governments in Illinois now totals $267 billion.

TAGS: GARS: General Assembly Retirement System, JRS: Judges’ Retirement System, pensions, SERS: State Employee Retirement System, SURS: State Universities Retirement System, TRS: Teachers’ Retirement System