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Category Archives: Public Pensions
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
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
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
The head of the Chicago Teachers’ Union pension fund, Charles Burbridge, was on “Chicago Tonight” on Tuesday, and he held up 7 checks totaling $643 million, which was the amount needed to fully fund this year’s required contribution. When Phil … Continue reading