05.02.14
A settlement agreement on Rhode Island’s pension reform litigation that was presented to pension system members for a vote has been rejected even though most groups overwhelmingly backed it. The vote was structured such that any one group of members could scotch the agreement if more than...
03.12.14
Last month, an independent Blue Ribbon Panel convened by the Society of Actuaries released its report with recommendations...
01.29.14
The State of Illinois’ new pension law is expected to reduce statutorily required State contributions by $144.9 million over 30...
01.17.14
Although the most significant change in Illinois’ new pension law consists of a reduction in annual benefit increases paid to current and...
01.10.14
Despite savings from recently enacted pension reforms , the State of Illinois’ finances could still worsen...
12.12.13
The pension plan enacted by the State of Illinois on December 5, 2013 may preserve more of the benefit increases for current employees than is widely assumed, due to a provision of the new law that ties benefit...
12.04.13
The following opinion piece by Civic Federation President Laurence Msall was published by Crain's Chicago Business on December 4, 2013....
11.26.13
Legislative action on reducing the State of Illinois’ massive pension obligations could come as soon as next week, but the details of the latest pension reform proposal and its potential impact on the State’s financial condition have not yet been made public.
On November 25, Illinois...
10.30.13
The State of Illinois will need to contribute somewhat more to its five retirement systems in FY2015, but the growth will be less than previously projected due mainly to strong investment returns.
Pension contributions required by State law will increase by $103.5 million, or 1.5%, to $6...
10.02.13
This analysis of the State of Illinois’ Fiscal Year 2014 Enacted Budget finds that the budget may represent a high-water mark, with future years bringing sharp reductions in revenues and...
