Alton in negotiations to sell off city sewer system and water treatment plant to pay for pensions
Alton in negotiations to sell off city sewer system and water treatment plant to pay for pensions
Most of the proceeds from the sale of Alton's sewer system and water treatment plant would go toward combined police and fire pension debt of more than $113 million.
By Brendan Bakala
Mundelein fire department dispute shows weight of growing pension costs
Mundelein fire department dispute shows weight of growing pension costs
Village officials are trying to control expenses by cutting staff as growing pension costs continue to gobble up local tax dollars.
By Brendan Bakala
Broken pension system puts Schaumburg taxpayers on the hook for bad investments
Broken pension system puts Schaumburg taxpayers on the hook for bad investments
The defined-benefit pension system threatens the retirement security of government workers, as well as the pocketbooks of overburdened taxpayers.
By Austin Berg
Danville officials propose monthly fee of $22-85 for pensions in addition to property tax hike
Danville officials propose monthly fee of $22-85 for pensions in addition to property tax hike
A new city proposal would have owners of Danville property pay fees of up to $1,020 a year just for public safety pensions.
By Brendan Bakala
Cook County retirees to outnumber active employees in 2 years
Cook County retirees to outnumber active employees in 2 years
Recently released data shows retirees outpacing active employees, adding pressure to an already stressed pension fund.
By Chris Lentino
More than 2,200 Cook County workers receive salaries over $100,000
More than 2,200 Cook County workers receive salaries over $100,000
More than 2,200 Cook County workers receive salaries over $100,000. For career county workers, that means pensions worth millions of dollars over the course of their retirements.
By Ted Dabrowski, John Klingner
Currie to receive 6-figure pension after first year of retirement
Currie to receive 6-figure pension after first year of retirement
The longtime House majority leader will benefit from a sweetener provision that grants massive pension spikes to career lawmakers after one year of retirement.
By Austin Berg
River Forest District 90 will pay 100 percent of teacher pension contributions
River Forest District 90 will pay 100 percent of teacher pension contributions
In the midst of Illinois’ pension crisis, River Forest District 90 has agreed to pay 100 percent of teacher contributions to the Teachers' Retirement System – and it did so secretly.
By Mailee Smith
Kentucky governor pushes 401(k)s to help resolve Bluegrass pension crisis
Kentucky governor pushes 401(k)s to help resolve Bluegrass pension crisis
Despite the smaller relative size of its burden, Kentucky is considering making far more comprehensive changes to its public sector retirement systems than Illinois ever has.
By Ted Dabrowski, John Klingner
Mattoon forced to cut ambulance services to pay for growing pension crisis
Mattoon forced to cut ambulance services to pay for growing pension crisis
Communities across Illinois are being forced to cut local services and raise taxes to afford their pension payments, putting residents who rely on local government services at risk because of the inherent failures of defined-benefit plans.
By Ted Dabrowski, John Klingner
Rauner signs police pension reform ending double dipping, introducing 401(k) plans
Rauner signs police pension reform ending double dipping, introducing 401(k) plans
The new law is a step toward more fairness within Illinois’ police pension system, while offering certain police officers more control over their retirements.
By John Klingner
Harvey pension crisis shows why local governments need a 401(k) option
Harvey pension crisis shows why local governments need a 401(k) option
The Harvey, Illinois, firefighters’ nearly bankrupt pension fund makes up just one part of Illinois’ combined $267 billion in state and local pension liabilities.
By Ted Dabrowski, John Klingner
Michigan introduces 401(k)-style plan for teachers
Michigan introduces 401(k)-style plan for teachers
With the successful passage of 401(k)-style pension reform in Michigan’s state legislature, Illinois lawmakers should examine their own growing pension crisis and pursue bolder reforms to stabilize the state’s finances.
By Ted Dabrowski, John Klingner
House Republicans’ pension plan not the solution Illinois needs
House Republicans’ pension plan not the solution Illinois needs
Illinois needs to begin an end to its pension crisis by expanding access to a standalone 401(k)-style plan to all government workers; the new proposal by the House GOP does not accomplish this.
By John Klingner, Ted Dabrowski