Reforming Illinois’ Teachers’ Retirement System is the only hope for saving the pension fund from insolvency and providing the accountability and retirement security that teachers and taxpayers deserve.
Chicago Public Schools CEO Forrest Claypool calls for an end to “pickups” of employee pension contributions, which would save the cash-strapped district $174 million a year.
In October, we found 52 different stories of potential public corruption in Illinois, including a trio of stories related to the election. An Illinois Policy investigation into emails from a group of Kankakee County superintendents revealed potentially illegal activities to pass a countywide sales-tax hike for school facilities. Documents obtained suggest illegal actions by superintendents...
Opponents of real pension reform often argue that government workers receive modest pensions. The Chicago Teacher’s Union, or CTU, is one such opponent. Under its FAQ page about teacher pensions, the union’s website states: “The average Chicago Teachers’ Pension Fund (CTPF) retiree earns $42,000 per year. Of the 87,000 retired teachers in Illinois, almost 1...
The problem Chicago is suffering from one of the worst pension crises in the nation. To begin fixing its failing system, the city should move away from a politician-controlled, defined-benefit system. But another important step is reforming retirement-age requirements. The Chicago systems’ retirement ages don’t reflect today’s fiscal and demographic realities. People are living longer,...
Chicago Public Schools, or CPS, officials announced yesterday that the district laid off a group of teachers and other staff. Overall, 1,150 school district employees, composed of 550 teachers and 600 clerical support staff, are being let go by the school district. This round of layoffs comes a year after CPS let go a further...
45. April 30, 2014 Sun-Times: Criminal probe of Quinn anti-violence plan rocks governor’s race A criminal grand jury has launched a probe into Gov. Pat Quinn’s troubled anti-violence program — once likened to “a political slush fund” — delivering a major blow to the Democrat as he seeks re-election this fall. On Tuesday, the Quinn...
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.