Chicago pensions carry more debt than 44 states
Chicago pensions carry more debt than 44 states
Chicago’s pension systems carry over $53 billion in debt, leaving taxpayers with rising bills and no reform in sight.
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Selling every NBA team wouldn’t be enough to fill Illinois’ pension hole
Selling every NBA team wouldn’t be enough to fill Illinois’ pension hole
The five pension systems run by the state of Illinois only have 46 cents on hand for every $1 of benefits they owe. Filling that $144 billion hole would require more money than the price of every NBA team combined.
Chicago retirement fund for first responders at greater risk
Chicago retirement fund for first responders at greater risk
Gov. J.B. Pritzker signed a law adding $11.1 billion in new liabilities to Chicago’s fire and police pensions, already the worst-funded in the nation. These “sweeteners” hurt retirement security more than they help.
Chicago alderman’s $120K pension shows why city fund is broken
Chicago alderman’s $120K pension shows why city fund is broken
Chicago’s municipal pension is one of the worst-funded pension systems in the nation despite sky-high taxes dedicated to paying into it. Fat pensions such as former Ald. Walter Burnett’s show why.
Pritzker further undermines Chicago police, fire pensions
Pritzker further undermines Chicago police, fire pensions
Gov. J.B. Pritzker had a chance to stop a bill putting taxpayers on the hook for $11.1 billion in inflated pension benefits for Chicago police and firefighters. He blew it. Taxpayers will be paying the price for decades.
Report shows Illinois government pension crisis worst in U.S.
Report shows Illinois government pension crisis worst in U.S.
Illinois has the nation’s worst public pension crisis. Nationwide analysis from the Equable Institute shows Illinois state pensions remain fiscally unstable and threaten retirees and taxpayers, underscoring the need for reform.
Chicago pension sweetener would add $11.1 billion in liabilities
Chicago pension sweetener would add $11.1 billion in liabilities
State lawmakers boosted benefits for Chicago police and firefighters in the final days of the legislative session. Gov. J.B. Pritzker should reject this bill, or else it will add billions in debt to an already struggling city.
Pension debt limits teacher pay, hurts recruitment in Illinois
Pension debt limits teacher pay, hurts recruitment in Illinois
Money that could help address the teacher shortage is often the first to get cut in pursuit of keeping up with government pension debt. Supporting Illinois teachers will require constitutional pension reform and protecting Tier 2 cost savings.
Nearly 32,000 Illinois government pensioners paid $100k-plus
Nearly 32,000 Illinois government pensioners paid $100k-plus
State data shows 31,937 members of Illinois’ five pension systems collected $100,000 a year or more in retirement benefits during 2024. Some got over $500,000. See the full list below.
Illinois pensioners earn nearly $25K more retired than those working to support them
Illinois pensioners earn nearly $25K more retired than those working to support them
The average retired career state employee in Illinois was paid $93,558 in pension benefits last year. That’s $24,538 more than the average Illinoisan working to pay for those retirees.
Illinois finds potential fix for newer employee pensions, rejects push for $64.5B boost
Illinois finds potential fix for newer employee pensions, rejects push for $64.5B boost
Lawmakers quietly added a fund intended to comply with federal rules about pensions for newer state workers. If it works, Illinois taxpayers will have avoided costly federal mandates and a push by public employee unions to expand obligations by $64.5 billion.
Lawmakers considering adding more than $64.5 billion in pension costs in final hours of budget negotiations
Lawmakers considering adding more than $64.5 billion in pension costs in final hours of budget negotiations
As state lawmakers finalize the 2026 budget, public sector unions are pushing for major benefit spikes for Tier 2 pensioners to be included in last-minute additions.