As contract negotiations heat up this summer, the facts are hard to stomach.
Ending teacher pension pickups is a simple, responsible way for school districts to manage their finances.
Actuarial analysis offers options to transition to a defined-contribution retirement plan
Changing the repayment plan to one based on flawed assumptions and bad accounting does nothing to shield taxpayers from the risks of an imperfect system.
Ending pension pickups is a simple, responsible way for cash-strapped school districts to free up money for the classroom.
Taxpayers need protection when municipalities go bust.
Talk of the next Detroit rings truer now than ever before.
More revenue can’t fix a fundamentally flawed system. Illinois lawmakers should know this; they tried that approach and failed.
More than 60,000 workers in the State Employees’ Retirement System participate in Social Security.
The main driver? A defined-benefit system.
What happens when financial gimmicks win out over real pension reform?
Expect local-government finances across the state to spiral downward until politicians pass a constitutional amendment.
In their SB 1 ruling, Illinois Supreme Court justices indicate that paying for pensions is more important than funding core government services.
Illinois’ political elite devised a pension scheme that was never affordable for Illinois taxpayers.