Pension Python News Today

Illinois recently released its biggest, regular report on government pensions. Before getting to that, however, it’s fascinating to look back on what was widely agreed about pensions not long ago, and how all that was said is now forgotten.

Illinois recently released its biggest, regular report on government pensions. Before getting to that, however, it’s fascinating to look back on what was widely agreed about pensions not long ago,

Originally published on May 5, 2021 11:51 pm Illinois’ economy was humming along last winter, a few years removed from the state’s two-year budget impasse in which Illinois’ unpaid bill backlog climbed to nearly $17 billion, and finally experiencing the kind of growth that had eluded the state for years after the Great Recession. But then COVID-19 hit. Gov. JB Pritzker ordered bars and restaurants closed a few days after the World Health Organization declared the virus a global pandemic,...

==his clients, including some now in Illinois, increasingly are looking at places such as Texas== Was Jack on vacation last week? Someplace without a TV or internet access? ==capping deductions of corporate losses at $100,000 a year for three years== If it’s just for the next three years, wouldn’t businesses just apply any NOL above that limit over those three years to year four? Isn’t that like borrowing net operating loss deductions from future years? Support for individuals in need an...

Could his plan hurt or potentially kill the chances of the bipartisan efforts that are already underway in the senate right now? fair and balanced debate coming up. remember squeezey the so-called pension python threatening to bankrupt illinois, remember the illinois government put this out saying they werent being to be able to pay their pension soon. squeezey got bigger and more dangerous. what is going on in the state where his father was born and how you might have to pay for it. a teen ...

Ask whether there will be enough in the fund when they are ready to retire. the problem is the squeeze. >> fan it is tick. that was squeezey the pension python the cartoon character introduced by the office of illinois governor pat quinn to raise public awareness about the states growing pension problem. they owe more than they have in the coffers. legislate tours failed to enact any meaningful reform. this past weekend moody investor as service decided to downgrade to the lowest in the nation. ...

Governor, it was squeezy that python. why is that the feds responsibility to bail people out of their own bad decision-making? >> it might be good politics to do that, president obama porting the people who supported him, but it very bad economics. in illinois, you ran the tape of the pension python. that python is $233 billion in the state of illinois. those that dont have the money. what they should be doing is addressing the pension problem. they are not doing so. beneath the surface, the des...

And all the other states may soon have to put their bill. according to the pew research center, illinois has the most underfunded public pension system in the entire country. the funding ratio of just 45%. 45% funded. estimated $95 billion short of where they need to be to pay out the promised pension. a problem that pat quinn says needs to be fixed to find a solution. it is harder to come by. here is a video that we just released. the governor squeezing the pension python. >> sometimes they mak...