Allstate, other Illinois companies set to lay off more than 1,300 employees
Allstate, other Illinois companies set to lay off more than 1,300 employees
Allstate Corp. tops the list of Illinois companies planning layoffs, according to a June report from theIllinois Department of Commerce and Economic Opportunity, or IDCEO. The Northbrook-based insurance company is planning to lay off 348 workers from its Woodridge, Ill., location as part of a restructuring effort to reduce expenses. Under IDCEO’s Illinois Worker Adjustment and...
By Hilary Gowins
Federal government announces one-year delay of ObamaCare’s employer mandate
Federal government announces one-year delay of ObamaCare’s employer mandate
by Naomi Lopez-Bauman If ObamaCare weren’t already enough of a train wreck, the irony of the U.S. Treasury Department blog post announcing the delay of the ObamaCare employer mandate – titled Continuing to Implement the ACA in a Careful, Thoughtful Manner – would be hysterical. The employer mandate is a provision of ObamaCare that requires employers with 50...
Quinn’s crystal ball
Quinn’s crystal ball
After several months of saying that pension reform inaction by the Illinois General Assembly costs taxpayers $17 million a day, Gov. Pat Quinn lowered that number to $5 million per day for fiscal year 2014. That’s surprising, since no pension reform bill was passed in the recent legislative session and the unfunded liability is still almost...
By Ted Dabrowski
Taxpayer contributions to SURS increased 333 percent since 1998
Taxpayer contributions to SURS increased 333 percent since 1998
Employee contributions to the State University Retirement System, or SURS, have gone up by 16 percent since 1998. During the same time period, taxpayer contributions to university worker retirements increased by 333 percent. In 2012 alone, Illinois taxpayers contributed $730 million more to SURS than university employees did. And the disparity between taxpayer and employee...
By John Klingner
U.S. Supreme Court should scrutinize Quinn’s plan to unionize Illinois moms and dads
U.S. Supreme Court should scrutinize Quinn’s plan to unionize Illinois moms and dads
Illinois resident Pam Harris has a son, Josh, who is 24 years old and suffers from Rubinstein-Taybi syndrome, a rare genetic malady that leaves him moderately handicapped mentally and at the same time affects his joints so that he is prone to dislocations. Josh can move around the house and do simple chores. He’s also...
By Paul Kersey
Gov. Quinn’s projected pension debt growth “slowdown” nothing to celebrate
Gov. Quinn’s projected pension debt growth “slowdown” nothing to celebrate
by Jonathan Ingram The Quinn administration recently released a new projection of how quickly the state’s massive pension debt is growing. As a result, some are celebrating the fact that the governor is predicting that Illinois’ pension debt will only grow by $5 million per day during fiscal year 2014, as opposed to his projection of $17...
By Chris Andriesen
After pricing teachers out of jobs, CTU sets up laid-off employees to receive government assistance
After pricing teachers out of jobs, CTU sets up laid-off employees to receive government assistance
by Paul Kersey Barring a dramatic shift, more than 800 Chicago Public Schools employees, many of them dues-paying Chicago Teachers Union members, will be without jobs when schools open in the fall. But CTU, having collected more than $1,000 in dues per year from these people before pricing them out of their jobs, has made plans to help...
Little movement during Illinois’ first pension committee meeting
Little movement during Illinois’ first pension committee meeting
by Jane McEnaney On June 27, the Illinois General Assembly’s conference committee on pension reform met for the first time in Chicago. All 10 members of the bipartisan, bicameral committee were present. The committee met for five straight hours, hearing testimony from: Ty Fahner, President, Civic Committee of The Commercial Club of Chicago Jerry Stermer, Acting Director...
By Chris Andriesen
Moody’s: Illinois 2011 unfunded liability jumps by 65 percent
Moody’s: Illinois 2011 unfunded liability jumps by 65 percent
by Ted Dabrowski and John Klingner Moody’s Investors Service reported that Illinois’ true unfunded pension liability in fiscal year 2011 was nearly 65% higher than the state’s official estimate. In its report titled “Adjusted Pension Liability Medians for U.S. States,” Moody’s calculated the unfunded liabilities for Illinois’ three largest state-run pension plans at $133 billion, compared...
By Chris Andriesen
Illinois’ 102 county online transparency audit
Illinois’ 102 county online transparency audit
One of the best protections against corruption is transparency, and in today’s digital age one of the easiest ways for government to be open and accountable is through posting public documents on the Internet. Unfortunately, most Illinois counties need to dramatically improve when it comes to online transparency. The Illinois Policy Institute recently audited all...
By Brian Costin
Illinois’ seemingly endless appetite: another $1.3 billion borrowing
Illinois’ seemingly endless appetite: another $1.3 billion borrowing
by Ted Dabrowski As if Illinois didn’t have enough debt to deal with, the state borrowed another $1.3 billion. The state says it needs the money for infrastructure projects. Illinois tapped the bond markets despite the current fallout from the state’s failure to reform pensions and the recent bond market instability, which drove states like...
Beck rights and abstention: The ways around a toxic union
Beck rights and abstention: The ways around a toxic union
A recent Google Consumer Surveys poll shows that a third of union household members would quit their union if it weren’t for the fact that doing so would cost them their jobs. Because Illinois lacks a Right-to-Work law, thousands of workers are forced to pay dues or fees to a union that they don’t believe...
By Paul Kersey
Comptroller seeks investigation into Washington Park’s missing $300K
Comptroller seeks investigation into Washington Park’s missing $300K
by Andrew Wyatt This year, Washington Park lost $300,000 of taxpayer money meant to cover village workers’ paychecks. The village also has not filed any financial reports, audits or tax statements to the comptroller’s office for the last seven years. The village of Washington Park, which is near East St. Louis, is no stranger to...