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.

Numerous U.S. pension plans are in deep, deep trouble, and Illinois is at the top of the list. Plan assumptions cannot and will not be met.

Baby boomers have saddled young Illinoisans with a grossly unfair burden.

Opponents of pension reform in Illinois are quick to malign self-managed accounts, such as 401(k)s, as too risky for government workers. They claim that workers are better off with pensions paid for and run by the government, as if that somehow makes them more secure. But there are three key problems with that argument. The...

Madigan’s new pension “fix” does nothing to address the problems with the current pension system. Here’s another reason why Illinois teachers should urge their legislators to vote “no”:  the new pension bill does nothing to address the unfair distribution of pensions under the Teachers’ Retirement System, or TRS. Amazingly, the pension a teacher in TRS...

The 401(k) option is a fake: The bill says that some people would be allowed to participate in a 401(k)-style plan. But participation in the 401(k) option is limited to 5 percent of Tier 1 members (which includes members who were hired before 2011). Once 5 percent of these members are in the plan, it...

REPORTS Pension Solutions: reforming retirement age More than 50% of Illinois government pensioners retired at age 59 or younger. Read more… Pension Solutions: cost-of-living adjustments are supersizing state pensions More than 8,000 Illinois government retirees receive more than $100,000 in annual pension benefits. Read more… Illinois’ pension system lacks transparency Actuarial data need to be...