PRESS RELEASE from the ILLINOIS POLICY INSTITUTE MEDIA CONTACT: Diana Rickert Diana@IllinoisPolicy.org or (312) 607-4977   Illinois Policy Institute statement on pensions: Real reform means adopting 401(k)-style plan SPRINGFIELD, Ill. (Jan. 6, 2013) – The Illinois Policy Institute released the following statement from CEO John Tillman regarding pension reform talks: “Illinois can be an economic...

Standard and Poor’s Rating Services just dropped Illinois’ credit rating to A- from A. There is not another state in the union with credit as lousy as ours. We are worse off than California.

Daily Herald published the following opinion piece by the Institute’s Vice President of Policy, Ted Dabrowski: Many civic groups are calling for the legislature to do something ? anything ? on pension reform. That’s fool’s advice. Instead, they should call on lawmakers to do the right thing. That means a defined contribution system. It’s the...

Bailout of state pensions would force taxpayers in prudent states to pay for fiscal irresponsibility of Illinois, California

U.S. Sen. Jim DeMint (R-South Carolina), the Senate

Illinois reports that it owes $83 billion to its five public pension funds. Worse yet, under new reporting requirements by the Governmental Accounting Standards Board and Moody’s Investment Services, the state’s pension debt will more than double. There are a lot of numbers being thrown around in the fight over pension reform. But these are the...

When Rhode Island saw the writing on the wall late last year, its legislature did something no one thought it could do. It passed the boldest pension reforms in the nation. A democrat-controlled state, with the second-worst funded pension system in the nation, passed a series of reforms that cut the state’s unfunded liabilities by...

Just over the past five years, 71 cents from every new dollar set aside by state government for Pk-12 education went to teacher retirement costs.