Bailing out local governments’ underwater pension funds would exacerbate Illinois’ pension debt, inviting tax hikes on middle class Illinoisans.
Public pensions are already eating away Illinois government services, increasing by more than 500% during the past 20 years as spending on core services including child protection, state police and college money for poor students has dropped by nearly one-third since 2000. At the same time the clock is running out on the state’s public...
Growing pension costs for retired educators are quickly crowding the classroom out of Illinois budgets.
Illinois counties are hiring debt collectors to track down people who may owe money for older, unpaid traffic tickets. One woman accused of owing money would have been just 14 when the ticket was issued.
Newly retired government workers’ lifetime pension benefits will far exceed what they contributed toward their own retirements
A plan that allowed some pension enrollees to cash in early on their earned retirement benefits in exchange for curbing future benefits has so far generated only 3% of its expected savings.
Florida is the top destination for Illinois retirees collecting a public pension.
Residents in Illinois’ Metro East area are fleeing a growing property tax burden, fueling regional population loss.
The New Jersey Senate president is proposing solutions to the state’s pension problem. Illinois is worse off, but state leaders remain silent on reforms.
A provision included in Illinois’ previous budget aimed to protect state taxpayers from end-of-career salary spiking in local school districts. The budget proposal en route to Gov. J.B. Pritzker’s desk would repeal that protection.
Perry County is home to the DuQuoin State Fair, but the prize hog is a pension system eating money needed for public safety and other core services. County employees face layoffs.
Illinois is home to the nation’s worst pension problem. A bill aimed at double-dipping by local politicians could make it better as Illinois pursues a pension system overhaul.
More than 25% of state revenue already goes to pensions and retiree health care, but Illinois would need to double that to fully fund promised benefits at current levels.
Illinois borrows money to reduce pension obligations, with more borrowing planned. Claims $400 million in current budget savings, but admits to investors it cannot calculate any savings.