12.26.13
The following posts were among the most highly read on the Institute for Illinois’ Fiscal Sustainability’s blog in 2013 and represent some of the most closely followed Illinois fiscal issues this year:
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12.20.13
On December 18, 2013, the Illinois General Assembly held its first hearing on the plan to apply for a federal waiver to overhaul the State’s Medicaid program.
State officials plan to submit an...
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...
12.06.13
After decades of dire warnings and several years of legislative negotiations, the Illinois General Assembly on December 3, 2013 passed...
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...
11.22.13
A provision of the General Obligation Bond Act in Illinois requires the State to structure its bonds so that equal amounts of the funds borrowed are repaid in each year of the loan. This structure, called level principal, benefits the State’s long-term debt profile by reducing the overall cost...
11.18.13
Only four months into the State of Illinois’ 2014 fiscal year, which began on July 1, 2013, annual revenue projections have increased by more than $300 million from the initial estimates. Positive first quarter results from the State’s sales tax receipts are being added to other one-...
11.14.13
The State of Illinois plans to apply for a sweeping federal waiver to overhaul its Medicaid program, according to a draft concept paper issued on November 7, 2013.
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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...