Political Fix Theater: Apology Not Accepted
The curtains are closing on the Chicago play "I Wish to Apologize to the People of Illinois" -- a timely production, given that today, Dec. 9, marks five years since Rod Blagojevich's arrest. Two...
View ArticlePreparing To Implement Pension Overhaul — And Not To
Illinois’ biggest and most indebted pension system is beginning to implement changes tied to the pension overhaul passed this month. But officials are also making plans in case the new law is struck...
View ArticleLegal Interpretation May Erase Pension Glitch
The State Universities Retirement System now says a troublesome piece of last year's state pension-reform law may not cut retirees' pensions after all. William Mabe is the executive director of the...
View ArticleTeacher Pension Fund Lowers Expected Investment Return; State's Obligation To...
The Illinois Teachers' Retirement System says it expects a lower return on its pension investments in the next year. That means the state will have to cover more of the cost of teacher pensions. TRS...
View ArticlePension Funds Will Send Checks, But Still Face A Cash Crunch
Illinois' lack of a budget means public pension systems won't get their state contribution next month. That won't stop retirees from getting their checks. However, there could still be an impact.
View ArticleIllinois Issues: The Next Pension Time Bomb
Illinois has more than $100 billion in pension debt. So far, attempts to fix it have been mostly illegal.
View ArticleEducation Desk: TRS Vote Puts Another Dent In State Budget
Officials with the Teacher’s Retirement System made a decision today that could add another $421 million to Illinois’ annual pension costs.
View ArticleTRS Board Vote Comes As States Nationwide Face Lackluster Pension Investment...
The Illinois Teachers Retirement System voted last week to reduce the amount of money it assumes it will make from its investments. The board revised this rate of assumption down to 7 percent from 7.5...
View ArticleMoody's Likes TRS Pension Move. But There's A Catch.
It's a rare occurrence of late: A credit rating agency saying something positive about Illinois' finances. But the comment published Tuesday by Moody's Investor Service was tempered. Illinois could end...
View ArticleTRS Pension Payment Rising More Than 14-Percent
Illinois' already strained bank account will be stretched by another $4.6 billion because of action taken by the state government's largest pension fund.
View ArticleNegotiations Fizzle; SB1 Goes To Gov
The future of state funding for Illinois schools is still up in the air Monday afternoon. The fight over Senate Bill 1 — legislation that would overhaul the way Illinois supports k-12 schools — has...
View Article2020 Could Have School Districts Seeing Red
Between a new state pension plan and Gov. Bruce Rauner's amendatory veto of the Democrats' school funding plan, some school districts would be in for a big hit in July 2020. The two changes would have...
View ArticleIllinois Shorting Pensions, Again
The Illinois state pension funds are among the worst-funded in the nation. Yet, a new state law allows less money to be put toward that purpose.
View ArticleChanges to Pension System Spell Uncertainty For Teachers
A recent report shows Illinois is facing a teacher shortage. But changes to teachers’ pensions — including cutbacks on the state’s share of contributions — spells uncertainty for anyone going into the...
View ArticlePolitical Fix Theater: Apology Not Accepted
The curtains are closing on the Chicago play "I Wish to Apologize to the People of Illinois" -- a timely production, given that today, Dec. 9, marks five years since Rod Blagojevich's arrest. Two...
View ArticlePreparing To Implement Pension Overhaul — And Not To
Illinois’ biggest and most indebted pension system is beginning to implement changes tied to the pension overhaul passed this month. But officials are also making plans in case the new law is struck...
View ArticleLegal Interpretation May Erase Pension Glitch
The State Universities Retirement System now says a troublesome piece of last year's state pension-reform law may not cut retirees' pensions after all. William Mabe is the executive director of the...
View ArticleTeacher Pension Fund Lowers Expected Investment Return; State's Obligation To...
The Illinois Teachers' Retirement System says it expects a lower return on its pension investments in the next year. That means the state will have to cover more of the cost of teacher pensions. TRS...
View ArticlePension Funds Will Send Checks, But Still Face A Cash Crunch
Illinois' lack of a budget means public pension systems won't get their state contribution next month. That won't stop retirees from getting their checks. However, there could still be an impact.
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