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Illinois Pensions

An Illustrated History of Retirement and Pensions

Reboot Illinois | Posted 06.23.2014 | Chicago
Reboot Illinois

What's happened over time is a lot fewer active workers are helping fund the retirements of a whole lot more retirees.

Chicago Pension-Cutting Plan Would Harm City Retirees, Neighborhoods

Henry Bayer | Posted 06.08.2014 | Chicago
Henry Bayer

roponents of the drastic Chicago pension cuts sought by the city have threatened a range of doomsday scenarios if their proposal is not enacted. Rather than the thoughtful, informed discussion this matter deserves, this is the equivalent of shouting "Fire!" in a crowded theater.

Unions Sue Over Pension Reform Plan

AP | KERRY LESTER | Posted 01.29.2014 | Chicago

SPRINGFIELD, Ill. (AP) — Some of the largest public labor unions in Illinois filed a long-awaited lawsuit Tuesday challenging the state's new pensio...

Report: State's Budget Gap Will Grow Despite Pension Overhaul

Reuters | Posted 03.24.2014 | Chicago

CHICAGO, Jan 21 (Reuters) - A reform package passed late last year will make improvements to Illinois' woefully underfunded public pension system, b...

Report: City's Pension Situation Both Positive And Negative

Reuters | Posted 02.13.2014 | Chicago

CHICAGO, Dec 13 (Reuters) - The passage last week of reforms to Illinois' public pension system could signal that the legislature may soon address C...

Illinois Democrats Wage Class War

Carl Gibson | Posted 02.10.2014 | Chicago
Carl Gibson

Try and name one difference between the policies of Wisconsin Governor Scott Walker and Chicago Mayor Rahm Emanuel that isn't of importance to evangelicals -- I'll wait.

Chicago's Own Pension Crisis Endangers City's Future

AP | SARA BURNETT | Posted 01.25.2014 | Chicago

CHICAGO (AP) — It's not the vision of a world class city that Chicago Mayor Rahm Emanuel typically likes to portray. More teachers losing their job...

Illinois Pension Fight Will Be Heading To Courts, Unions Vow

AP | SARA BURNETT | Posted 12.04.2013 | Chicago

SPRINGFIELD, Ill. (AP) — The passage of a landmark bill to address Illinois' worst-in-the-nation pension crisis means the yearslong fight over how t...

Illinois Pols Approve Pension Reform Bill

Reuters | Posted 02.02.2014 | Chicago

SPRINGFIELD, Illinois, Dec 3 (Reuters) - The Illinois House and Senate approved a long-awaited measure on Tuesday to reform the nation's worst-funde...

Lawmakers Convening Special Session On Pension Reform

AP | KERRY LESTER and SARA BURNETT | Posted 12.03.2013 | Chicago

SPRINGFIELD, Ill. (AP) — Illinois lawmakers were poised Tuesday to vote on a plan to solve the state's $100 billion pension crisis — a proposal ma...

Stop Making Excuses: Pass Pension Reform this Week

Matthew Dietrich | Posted 02.01.2014 | Chicago
Matthew Dietrich

There's plenty for everyone to hate in the pension bill expected to get a vote tomorrow in Springfield. Sorry, ideological purists. That's why it needs to pass.

Illinois Pols Reportedly Reach 'Comprehensive' Pension Deal

Reuters | Posted 01.27.2014 | Chicago

CHICAGO, Nov 27 (Reuters) - Illinois legislative leaders on Wednesday reached a long-elusive deal to reform the state's woefully und...

Detroit and the Tooth Fairy

Terry Savage | Posted 12.30.2013 | Business
Terry Savage

That's the one good thing you can say about what's going on in Detroit: It will hopefully motivate the politicians, employees and unions everywhere else to face reality and not believe the Tooth Fairy will somehow deposit the cash under their pillows.

Teacher Pension Fund's Unfunded Liability Grows

Reuters | Posted 12.26.2013 | Chicago

CHICAGO, Oct 25 (Reuters) - Illinois's Teachers' Retirement System, the state's biggest public pension fund, said on Friday that its unfunded liabil...

Pension Ills Loom As Rahm Unveils New Budget Proposal

Reuters | Posted 01.23.2014 | Chicago

By David Greising and Karen Pierog CHICAGO, Oct 22 (Reuters) - When Mayor Rahm Emanuel delivers Chicago's 2014 budget address on Wedne...

Judge: Governor Must Reinstate State Pols' Pay

AP | SARA BURNETT and SOPHIA TAREEN | Posted 11.26.2013 | Chicago

CHICAGO -- A judge ruled Thursday that Illinois Gov. Pat Quinn's decision to halt legislators' pay over the state's unprecedented pension crisis is un...

Totally-Broke State Buys $669,608 Doors For Capitol Building

Posted 09.05.2013 | Chicago

As federal spending watchdogs keep an eye out for $100 hammers, Illinois is getting away with $669,608 doors. That's right: The broke-as-a-joke ...

My Top Quotes in Illinois

Madison Bondi | Posted 10.28.2013 | Chicago
Madison Bondi

Only at the Illinois State Fair can you find corn dogs, politicians, and a 500-lb cow made of butter, all in the same place. Needless to say, it has been an exciting couple of weeks in Illinois, from our heated income tax debate to more messy Metra news, I don't know where to start!

Hey, Chicago, Whattya Say? Chapter 9 Is on the Way?

Bob Williams | Posted 10.08.2013 | Chicago
Bob Williams

Today, Chicago residents can count on their streetlamps working tonight and the police responding to emergencies in well under an hour. Unless they demand immediate action to address public employee retirement costs, that may not be true tomorrow.

My Top Quotes in Illinois

Madison Bondi | Posted 10.01.2013 | Chicago
Madison Bondi

The pension crisis still has no solution, and as each day passes, the Illinois taxpayers are the ones who pay the piper -- literally. It's cost ‪‎taxpayers‬ $21 billion since 2000, and it's only getting worse.

City's Budget Shortfall Expected To Surge To $1 Billion

Reuters | Posted 10.01.2013 | Chicago

CHICAGO, July 31 (Reuters) - Chicago's preliminary budget gap is expected to fall next year but is on track to nearly triple in 2015 without pension...

Madigan Ally In Metra Patronage Scandal Was Getting Big Pension

Posted 07.26.2013 | Chicago

It turns out the man at the center of the Metra patronage scandal was receiving a sizable city pension at the same time he asked House Speaker Mike Ma...

My Top Quotes in Illinois

Madison Bondi | Posted 07.23.2013 | Chicago
Madison Bondi

The subject of political corruption is nothing new to Illinois, but the recent accusations of patronage against House Speaker Michael Madigan made by ...

Other states cashing in on Illinois' dysfunction

Reboot Illinois | Posted 09.22.2013 | Politics
Reboot Illinois

An anemic state economy, deadbeat government and lackluster business climate have left some Illinoisans asking themselves, "Could the grass be gree...

Flat income tax? Progressive tax? No state income tax? A nationwide overview

Reboot Illinois | Posted 09.18.2013 | Chicago
Reboot Illinois

The 1970 Illinois constitution states that Illinois' state income tax must be applied with one rate paid by all taxpayers. Illinois is one of nine ...