Tag Archives: Public Pensions

The Governor’s SOTS Speech, What He Said and What He Didn’t Say

Every “State of” speech I’ve ever heard follows the same script: A recitation of accomplishments achieved since the previous speech; A shopping list of proposals to be addressed before the next one; and A reminder that those who stand in … Continue reading

Posted in Cost of Government | Tagged , , , , , , , | Leave a comment

Illinois Can’t Balance It’s Budget by Taxing Retirement Income

Back in December, the Northwest Herald ran a story about a proposal to make retirement income subject to Illinois income tax. On December 2, Rep. Dave McSweeney sponsored House Resolution 890, which states that: “We state our belief that the … Continue reading

Posted in Public Pensions, Uncategorized | Tagged , , | 1 Comment

Choosing Among Bad Options to Fix Our Pension Mess

So now we know that next year the State of Illinois will have to shell out 24% of its state budget just to pay pensions, and we strongly suspect that we’re having smoke blown at us if we believe the … Continue reading

Posted in Public Pensions | Tagged , , | Leave a comment

Is the Underfunding of Our Pensions 3 Times More Than Advertised?

We’re being told that our public pension plans are underfunded by $111 billion. That’s bad enough, but what if the underfunding is actually 3 times that amount? Continue reading

Posted in Public Pensions | Tagged , | 3 Comments

19% of Illinois’ Budget Goes to Pensions, and That Number is Going UP

24% of Illinois’ 2017 budget will go to fund the state’s 5 pension plans. Is it any wonder that state services are falling by the wayside? Continue reading

Posted in Public Pensions | Tagged , , | 4 Comments

I’m Shocked! Shocked to Find That Illinois Can’t Make Its Pension Payments!

From Bloomberg Business: Illinois will delay payments to its pension fund as a prolonged budget impasse causes a cash shortage, Comptroller Leslie Geissler Munger said. The spending standoff between Republican Governor Bruce Rauner and Democratic legislative leaders has extended into … Continue reading

Posted in Public Pensions | Tagged | 1 Comment

The Albatross Around Illinois’ Neck

When talking about the pension problem in Illinois, everyone focuses on the $100 or so billion underfunding. But the problem is not just the underfunding, it’s the amount the state needs to contribute to the plans each year to move … Continue reading

Posted in Illinois Budget, Public Pensions | Tagged , , | 4 Comments