Pensions Archives

CTU president concedes possibility of CPS ending annual multimillion-dollar practice of teacher ‘pension pickups’

CTU President Karen Lewis has acknowledged that CPS is in dire straits – and that her union may have to make concessions in contract negotiations, including ending the practice of the school district – meaning taxpayers – picking up the majority of teacher contributions toward pensions, which has cost $1.3 billion since 2006.

By Ted Dabrowski

Rauner making moves on pension reform

On Jan. 21 Gov. Bruce Rauner reignited reform talks surrounding Illinois’ worst-in-the-nation pension crisis.

By Ted Dabrowski

Illinois pensions: What you need to know

Here's what you need to know about Illinois' $111 billion state pension crisis.

Chicago Public Schools debt slides deeper into ‘junk’ status

Standard & Poor’s Ratings Services issued a two-notch downgrade to the Chicago Board of Education on Jan. 15, citing failure to address the district’s structural financial problems.

By Austin Berg

GE rejects Chicago as home for corporate headquarters, cites pension debt

General Electric will move its corporate headquarters and 800 jobs to Boston, Mass., from Fairfield, Conn., noting its concerns about Chicago’s government-worker pension debt in its rejection of the Windy City.

By Ted Dabrowski

Despite massive stock-market rally, Illinois’ pension liabilities go up and up and up

The fiscal crises caused by the state’s government-worker pension liabilities.

Illinoisans pay 2.5 times for their politicians

Taxpayers pay once for state politicians’ salaries and another 1.5 times for their bankrupt pension system. In 2017, taxpayers will contribute the equivalent of nearly $123,000 for each lawmaker just to keep the General Assembly Retirement System afloat.

By Ted Dabrowski, John Klingner

3 drivers causing police and firefighter pension costs to skyrocket in Elgin

Diverting taxpayer dollars from pensions to salaries, underfunding pensions, and providing unsustainably high pension benefits have caused Elgin, Illinois’ combined police and firefighter pension shortfalls to double in just nine years to $180 million.

By Ted Dabrowski, John Klingner

5 reasons Illinois government-worker pensions are unfair to taxpayers

The outsized benefits received by retired government workers under the State Universities Retirement System and the unfair burden this places on taxpayers demonstrate the urgent need to reform Illinois’ government-worker pensions.

By Ted Dabrowski, John Klingner

Kentucky governor-elect: 401(k)-style plans for new government employees

Kentucky’s governor-elect wants 401(k)s for new government employees.

By Ted Dabrowski

Dear Illinois Supreme Court: 8 things to know about Chicago’s pension-reform law

Regardless of the outcome of the case, the burden Chicagoans face from the government-worker pension crisis won’t be going away any time soon.

By Ted Dabrowski, John Klingner

8 things to know about Chicago’s pension-reform law

A Cook County judge is scheduled to rule on the constitutionality of Chicago's pension-reform law on July 24. No matter what the outcome is, the pension overhaul will eventually end up in the Illinois Supreme Court. But the ruling may give a clue as to whether or not the city’s reforms will ultimately be upheld.

By Ted Dabrowski, John Klingner

Moody’s: Chicago taxpayers on the hook for growing pension contributions

Chicago’s contributions to its government-worker pension funds will jump to $1 billion in 2016 from $500 million in 2015, according to a new report by Moody’s Investors Service.

By Ted Dabrowski, John Klingner

Moody’s: Chicago laggard in economic growth

A new report by Moody’s Investors Service details Chicago’s weak economic growth and increasing government-worker pension obligations.

By Ted Dabrowski, John Klingner