U.S. Securities and Exchange Commission

SEC charges prove politicians shouldn’t control public pensions

08/13/2014
Illinois taxpayers and government workers got proof in 2013 that politicians can’t be trusted to manage public-worker retirements. That’s when the Securities Exchange Commission charged Illinois with securities fraud. Now, Kansas joins Illinois and New Jersey as one of three states to face SEC civil charges for misleading investors about the health of their pension...

Illinois corruption watch, June 2014

By Brian Costin, Anthony Trania
07/09/2014
Unfortunately for taxpayers, June was a groundbreaking month for corruption in Illinois. In June alone, there were reports of 85 corruption-related stories in the state. Some of the record-breaking highlights include the following: For the first time in 33 years, the Illinois Legislative Audit Commission exercised its subpoena powers in the issuance of a subpoena...

Pat Quinn is fourth-highest paid governor in the country

By Hilary Gowins
07/10/2013
At a time when the state of Illinois has more than $100 billion in unfunded pension liabilities, more than $6 billion in unpaid bills and is coming off of its 13th credit downgrade since 2009, it might shock Illinoisans to hear that Gov. Quinn is one of the highest-paid governors in the country. Gov. Pat Quinn’s salary is $177,412. According...

ACTION ALERT: House Pensions Committee to hear pension reform bill

By Jane McEnaney
03/20/2013
At 3 p.m. Thursday, March 21, the House Personnel and Pensions Committee will hear House Bill 3303, sponsored by state Reps. Tom Morrison, R-Palatine, and Jeanne Ives, R-Wheaton. HB 3303 is the Illinois Policy Institute-backed pension reform plan that actually fixes the problem. Real pension reform means: Implementing a stable, predictable and manageable defined contribution system. Eliminating...

Pension ramp leaves taxpayers without an exit

By Ted Dabrowski
03/18/2013
On March 11, 2013, the Securities and Exchange Commission charged Illinois with securities fraud. The SEC accused the state of misleading investors by understating the depth of the pension crisis. The most revealing statement from the SEC: “The statutory plan structurally underfunded the state’s pension obligations and backloaded the majority of pension contributions far into...
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Chicago Forward 2026: A pro-growth plan to end city budget deficits

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.

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Diana Graham

Process for unionizing non-state workers raises red flags

By Paul Kersey
06/19/2014

CBS Chicago: Illinois’ highest-paid superintendent receives $400K per year to oversee 1,200 students

By Ted Dabrowski
05/02/2016