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Most public pension systems in Illinois are facing a looming deadline to reach a 90% funded ratio within a few decades. That’s required most employers to increase required contributions. But despite...
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Between its costs and almost permanent enshrinement in the state constitution, Amendment 1 would be the pension clause on steroids.
For 52 years the Illinois Constitution’s pension protection clause has locked the state into retirement promises it cannot afford. Amendment 1 could do the same for government union demands, handing taxpayers the bill.
Illinois’ broken pension system has allowed loopholes and schemes that cheat other pensioners and drive up taxpayers’ burdens. Here are 10 examples.
This Daily Herald editorial says that while it's welcome news that better-than-expected investments this year cut the state's unfundeded pension liability, the larger problem remains of meeting that liabiity in the long term.