Are TRS Trustees taking too many investment risks?

One of the consistent themes we have talked about on championnews over the last few years is the concept that Return On Investment (ROI) assumptions for all the state pension systems is too high. What we mean by this is we do not think that any investment style will allow 8% plus returns over a […]

10 Things You Probably Don’t Know About IL State Pensions.

They say that knowledge is power.  That being the case, this list of Ten Things you probably don’t know about Illinois State pensions is packed with enough information  to make Illinois taxpayers realize what really ails our state pension system.  Regardless of what the “professionals” say, pouring more money into this costly, corrupted, and failed […]

How Obama contributed to Illinois’ pension crisis

As an Illinois State Senator, Barack Obama and members of an Illinois lobbying group representing politically connected minority-owned businesses launched a campaign in 2000 to pressure state pension funds to help their friends and donors.  Obama and his cohorts targeted state officials in charge of pension funds for teachers, police and firemen, and regular government employees. […]

Unions block public pension reform in IL legislature

The Illinois legislature failed on Friday to take any action to fix the state’s woefully underfunded public retirement system because of fierce opposition from unions and concern about the response of voters in the November elections.  Negotiations quickly collapsed amid partisan bickering, with Gov. Quinn accusing minority Republicans of blocking reform and Republican Senate Leader […]

Closing in on Illinois Financial Reform

The Illinois Legislature is scheduled to be in session for a little more than a week.  These could, should, be momentous days.  There is a great opportunity to repair the massive fiscal damage the Legislature has created over many years.  It starts with curbing the state’s huge and unsustainable spending on pensions and health care. Click […]

IL Mayors call for Pension Reforms of an “unsustainable system.”

At the podium together for the first time since his election last year, Chicago Mayor Rahm Emanuel and more than two dozen suburban mayors Thursday called for pension reform to an “unsustainable system” as their municipalities are being pushed to “the verge of bankruptcy.” Click here to read this article from The Daily Herald.

How Retirement Benefits May Sink the States

Chicago Mayor Rahm Emanuel recently offered a stark assessment of the threat to his state’s future that is posed by mounting pension and retiree health-care bills for government workers. Unless Illinois enacts reform quickly, he said, the costs of these programs will force taxes so high that, “You won’t recruit a business, you won’t recruit […]

Yes, Public School Districts Should Pay for Pensions

Those who create the costs should pay for the costs. My, my, there is certainly a lot of wailing and gnashing of teeth over Gov. Quinn’s proposal to ask the local school district’s to pay part of the cost of the pensions. Everyone both Democrat and Republican are against it. The concern is the increase […]

IL Tea Party Responds to Gov. Quinn’s Penion “Stabilization” Plan

This week Governor Quinn announced his plan to “stabilize” Illinois public pensions. His plan contains some minor elements of reforms (i.e. COLA adjustment, increased retirement age) proposed by many organizations – including the Illinois Tea Party. But it falls well short of the real changes required to transform Illinois into a prosperous economy. The real […]

Tale of two neighboring states: A failing Illinois and a Wisconsin Success story

Two articles were published in tandem, but a day apart, detailing the out-of-control and severe financial status of Illinois.   I suspect that the Chicago Tribune’s article came first in the lineup on Thursday, January 19, Illinois’ Unpaid Bill Crisis Just Keeps Getting Worse, and that it served as the spring board for the following day’s […]