In just ten years, the Illinois General Assembly pushed the burden of billions in government spending onto Illinois’ future generations. Official estimates put Illinois’ unfunded pension liability at $85.6 billion. But that amount does not take into account the $25.8 billion in pension obligation bond (POB) payments still outstanding, which have a net present value...
By Chris Andriesen
11/02/2010
by Dan Proft I do not think government functionaries should set private sector salaries or that U.S. policymakers should be adorned with the appellation properly reserved for Russian autocrats. But, if I did not believe in free markets and free minds, NBA Commissioner David Stern would be my choice for “Pay Czar.” Stern is in the...
by Kristina Rasmussen From Crain’s: Illinois Teachers’ Retirement System, Springfield, plans to sell $3 billion in investments, or about 10% of its $33.1 billion in assets, in the current fiscal year to pay pension benefits, according to Dave Urbanek, public information officer. The system is the fifth Illinois statewide defined benefit plan to sell off investments this...
by Rhys Seiffe The State of Illinois paid 12 Benefit Counselors $679,791 in combined total wages in fiscal year 2008. The average salary was $56,649.25, and the highest paid counselor received $79,446. According to the Illinois Teachers Retirement System website, Benefits Counselors “prepare benefit estimates showing your projected pension benefits in different retirement scenarios”. To find this...
