11.09.18
Illinois’ contributions to its severely underfunded retirement systems are expected to increase significantly in the upcoming budget year, but the numbers could change due to pension buyout plans that have yet to be implemented.
Proposed State contributions to the five pension funds are...
10.26.18
A new study by the Kaiser Family Foundation found that Medicaid enrollment declined by 0.6% across the United States in 2018—the first nationwide drop since 2007. The...
10.12.18
The Illinois Estate tax is levied on net assets over $4 million of the estates of the deceased. Illinois does not have an inheritance tax, which is levied on assets received by the inheritors of an estate.
Estate tax revenue is forecast to be...
10.05.18
UPDATE: The State Universities Retirement System (SURS) does not expect to be ready to fully implement pension buyout plans for its members during FY2019, according to documents provided to the Civic Federation. SURS attributed the delay to complex benefit provisions, limited staffing and poor...
09.13.18
Illinois’ backlog of unpaid bills stood at nearly $7.4 billion as of September 13,...
08.31.18
With governments in Illinois facing steep increases in yearly pension contributions, new plans are being floated to borrow billions of dollars to stabilize ailing pension funds and relieve budgetary pressures.
The...
08.17.18
Illinois will issue bonds next week to refund all of its outstanding...
08.03.18
Thanks to higher than expected revenues , the State of Illinois ended the last fiscal year with a backlog of unpaid bills that was about $900 million below earlier forecasts.
The bill backlog stood...
07.16.18
The State of Illinois collected over $900 million more in revenues than previously forecast in the budget year that just ended, apparently resulting in a lower than expected year-end backlog of unpaid bills.
The State’s general operating revenues for fiscal year 2018 were $37.7 billion,...
07.05.18
Since Illinois passed its budget for the current fiscal year, many questions have been raised about the...
