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Pension Crisis

The Political Underbelly of the Pensions Crisis: What Broke the System, and How Do We Fix It?

Rob Johnson | Posted 04.27.2014 | Business
Rob Johnson

Many state and local governments are struggling to meet their obligations to retirees, and the easiest explanation is that workers are overpaid and their pensions are unaffordable. But the evidence suggests that the pensions crisis is both less pervasive and more complex than that.

Optimism All Around for Dec. 3 Pension Debate

Matthew Dietrich | Posted 01.23.2014 | Chicago
Matthew Dietrich

If you're among the millions of Illinoisans sick to death of the words "pensions reform," here's some good news: It's looking more likely than ever that the General Assembly will act on a bill in two weeks that'll get those words out of the daily news cycle and into the courts.

Not Many Treats From the House of Illinois Government Today

Matthew Dietrich | Posted 12.31.2013 | Chicago
Matthew Dietrich

We've compiled some other truly scary facts about the state's fiscal condition in today's jack-o-lantern-themed Top 10 list. We only get to do this...

Still No Pension Solution in Sight? Oh, Just Wait 'Til Next Year!

Matthew Dietrich | Posted 12.29.2013 | Chicago
Matthew Dietrich

While we flush $5 million in pension costs down the toilet daily, our state politicians don't meet again until Nov. 5 for three more days.

Promise for Pension Reform?

Matthew Dietrich | Posted 12.04.2013 | Chicago
Matthew Dietrich

Senate President John Cullerton is getting behind a pension reform compromise bill being hammered out by the General Assembly's special, 10-member conference committee that has been working on a bill since June.

2014: Dillard, Rutherford Announce Running Mates via Social Media

Matthew Dietrich | Posted 11.03.2013 | Chicago
Matthew Dietrich

Republican gubernatorial candidates Dan Rutherford and Kirk Dillard used social media over the long holiday weekend to preview their running mate choices.

Pension Committee Compromise Sure to Displease

Matthew Dietrich | Posted 10.27.2013 | Chicago
Matthew Dietrich

There is one thing I am absolutely, 100 percent sure about when it comes to the pension bill being hammered out by the Illinois General Assembly's conference committee: Whatever it is, both sides will find plenty to hate about it.

Madigan, Metra and clout culture: "Legal" doesn't mean "correct"

Matthew Dietrich | Posted 09.21.2013 | Chicago
Matthew Dietrich

LEGAL VS. RIGHT Whether House Speaker Michael Madigan broke any laws in trying to obtain a raise for a political donor at Metra is all but irrelevant....

Is Social Security Still Worth It?

AP | STEPHEN OHLEMACHER | Posted 10.05.2012 | Business

WASHINGTON (AP) — People retiring today are part of the first generation of workers who have paid more in Social Security taxes during their careers...

Pensions Under Attack in America?

Leo Kolivakis | Posted 09.15.2012 | Politics
Leo Kolivakis

In order to address the pathetic state of state pension funds, America needs a wholesale pension reform which includes compromises at the state, federal and union level. Now more than ever, politicians need to sit down and bolster, not weaken, public pensions.

Pension Bankruptcy in Tiny U.S. Territory Is a Warning of What May Lie Ahead

David Paul | Posted 07.24.2012 | Politics
David Paul

The pension issue is not going to go away. The financial impacts of pension deficits are going to be felt at the state and local level for years, and will continue to influence the political landscape as politicians are forced to confront that which is manifestly broken.

10 States Where Pensions Are Running Out Of Funds

24/7 Wall St | Posted 07.01.2011 | Business

As the financial obligations and access to capital for states and cities is debated one remedy has already been taken almost universally–cost cuts. ...

How Wisconsin Can Turn Austerity Into Prosperity: Own a Bank

Ellen Brown | Posted 05.25.2011 | Business
Ellen Brown

The budget woes of Wisconsin and other states were not caused by overspending on employee benefits. The "cure" is to get credit flowing again in the local economy, and this can be done by using state assets to capitalize state-owned banks.