Category Archives: Public Pensions

The Pension Shift Buried in the Illinois Budget

As Nancy Pelosi famously said during the Obamacare debate: “(W)e have to pass the bill so you can find out what is in it…” That quote must also be applied to the Budget Implementation Bill (BIMP) passed by the Illinois … Continue reading

Posted in Education, Property Taxes, Public Pensions | Tagged , | 1 Comment

OK, Mr. Speaker, the Ball’s in Your Court.

The Governor has issued an amendatory veto to Senate Bill 1, and the gnashing of teeth and rending of garments has begun. Chicago Mayor Emmanuel, who’s staring into an abyss not completely of his own making but which is now … Continue reading

Posted in Education, Illinois Budget, Property Taxes, Public Pensions | Tagged , , , | 1 Comment

If Not SB 1, Then What?

As I said in my previous post, my problem with SB 1 is the fact that it provides for funding of the Chicago Public Schools’ (CPS) normal pension cost within the framework of a bill that’s supposed to focus on … Continue reading

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Does SB 1 Bail Out the CPS Pension System? You Decide.

Everybody’s trying to explain how SB 1 bails out the Chicago Public Schools (CPS) pension system, and why the numbers are all over the board. Greg Hinz of Crain’s, who’s been really good at trying to make sense of this … Continue reading

Posted in Education, Public Pensions, Public Sector Unions | Tagged , , , | 3 Comments

Chicago Messes Its Bed, Then Asks Us To Clean It Up

The big issue in Springfield this week is the school funding bill, SB 1, which contains the new funding formula for schools. The governor claims, and he’s right, that the bill contains a provision that, in effect, diverts money from … Continue reading

Posted in Education, Public Pensions, Public Sector Unions | Tagged , , , , | 2 Comments