IL Supreme Court Rules Health Benefits Part of Pension

The IL Supreme Court today ruled that retirement health care benefits within the State pension systems are to be considered part of pension benefits that can not be constitutionally diminished or reduced. Paragraph 40 [Emphasis mine] ~ Although some of the benefits are governed by a group health insurance statute and others are covered by the […]

Cabello legislation targets pension loopholes brought to light by ex-lawmaker Farnham

When loopholes in current Illinois law allow for an ex-state lawmaker who is currently facing federal criminal charges for the most repulsive crimes to not only collect taxpayer-funded pension checks, but also to buy a last-minute retirement sweetener for time he didn’t work, alarm bells should be going off around the state. Believe it or […]

Gov Quinn Former Deputy Chief of Staff Overpaid in Retirement by Over $100,000 Per Year

In news broken yesterday by Bill Zettler, Director of Research for Family Taxpayers Foundation, discovered that the Gov Pat Quinn’s former Deputy Chief of Staff is receiving nearly $117,000 more per year than she is supposed to. Carolyn Brown Hodge retired in late 2009 after being fined for using state property to do political work. […]

Judge Halts Pension Reform

As many expected, a judge has issued a stay on the pension reform passed last December.  The case is likely to take a couple of years before it is decided at the Illinois Supreme Court. Here is a statement from the President of the Illinois AFL-CIO, Michael Carrigan: “This is an important first step in […]

Lawmakers at Odds over Pension Reform Savings

You can tell who is serious about pension reform and who is not with the comments when the actuarial analysis showed the following: It turns out pension reform could save $15 billion less than legislative leaders initially anticipated. An actuarial analysis done by the pension systems affected by this bill say the real savings will […]

Pension bill won’t save what sponsors promised, at least to start, Civic Fed says

A Chicago watchdog group that was a big advocate of Illinois’ recently enacted pension reform bill is out with a report saying the measure may not save nearly as much as its sponsors promised, at least to start. In a post on its website the Civic Federation of Chicago says that, while sponsors of the bill estimated state […]

SCHOOL SUPERINTENDENTS & ADMINISTRATORS Sue to keep gold plated pensions

Read the lawsuit here _______________ YET… TOP 100 School Administrator Pensions Exceed $180,000 per year,click here. AND… over 4,767 educators have $100,000 plus annual retirement pensions- to search Heat Map click here.   This pension lawsuit is about protecting the perks of highly-compensated school administrators who don’t even work in the classroom.  Let’s examine the five superintendents and […]

Jack Roeser Responds to the Madigan Pension Reform

Related articles: Which Republicans Sold Illinoisans Down the River on Pension Vote? SB1 Pension Reform bill – much ado about nothing State income tax hike doesn’t look so temporary now Enemy of his enemy: Conservative candidate could help Illinois governor win back unions Pension bill’s accounting gimmicks ignores $6-$8B in debt Demmer: Why I supported […]

State income tax hike doesn’t look so temporary now

Pension overhaul seen as having little affect The harshest Republican critics of a new law to wipe out the state’s $100 billion government worker pension debt argued that the plan should have saved more money or Illinois’ temporary income-tax increase that’s set to expire will never go away. A look at the state’s finances, however, […]

University of Chicago Economist Eugene Fama on Illinois Bonds

How do you feel about buying Illinois bonds? Well, in the short term, they’re OK. In the long term, I wouldn’t touch them. The [state’s] pension liability is much worse than [the reported $100 billion that] people think. How so? States discount their liabilities—I think Illinois uses a discount of 7.5 percent [it’s between 7 […]