Illinois lawmakers could still pass expensive changes to newer state worker pensions using a “gut and replace” maneuver. The proposal would cost taxpayers over $76 billion by 2050.

Reports that give Illinois pensions a rotten grade are not evidence government workers need better benefits. What they need is a properly managed, financially solid system. Adding more costs to a fiscal mess helps no one.

Illinois’ top 50 state pensioners can expect an average lifetime payout of $8.47 million despite just $333,844 being contributed during their careers. That’s $1 in, $25 out, thanks to taxpayers.

Illinois’ Tier 2 is a great retirement benefit for long-term state workers. But those who don’t spend their careers in government could be better served by the flexibility and portability of a defined contribution plan.

Illinois state government contributes the equivalent of 35 to 127 percent of government-worker salaries to keep its pension systems above water.

Here are the top 10 facts you need to know about Illinois’ pension crisis: 1) Illinois’ state pension funds have only 41 cents for every dollar they need to pay out future benefits. 2) Illinois has the nation’s worst pension crisis. Taxpayers are officially on the hook for more than $100 billion in unfunded Illinois pension debt,...

Illinois politicians have looted and mismanaged government-worker pensions for decades. Now the retirement security of government workers is at risk. It’s time to take politicians out of the retirement business and give workers control over their own retirement futures. Here are the top 10 facts you need to know about 401(k)-style retirement plans: 1) 401(k)s...

Illinois politicians have mismanaged government worker pensions for decades, creating one of the nation’s worst pension crises. Illinois’ five state pension systems collectively have only 41 cents on hand for every dollar they need to pay for future benefits. In the private sector, such a low funding level would mean bankruptcy. Even though politicians have...

Illinois has the worst-funded pension systems in the nation. But there’s one group of state-government workers that isn’t worried about whether their retirement checks will be slashed. Today, more than 13 percent of all active employees in the State Universities Retirement System, or SURS, participate in a 401(k)-style plan instead of a traditional pension plan...

The recent Illinois Supreme Court ruling on state retiree health insurance benefits creates a major problem for both the state and local governments. The court ruled that retiree health insurance benefits are protected by the pension protection clause of the Illinois Constitution. The ruling will make it difficult to reform retiree health benefits and to...