01.29.14
The State of Illinois’ new pension law is expected to reduce statutorily required State contributions by $144.9 million over 30...
01.29.14
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...
01.03.14
States inevitably face lawsuits when they attempt to ease budgetary pressures by cutting pension payments to current employees and retirees. While the legal battle over Illinois’...
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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12.12.13
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...
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...