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Category Archives: Public Pensions
It’s Not the Pension (Entirely), It’s the Debt
“If something cannot go on forever, it will stop.” – Herbert Stein’s Law In his budget address this week, Governor Rauner made big news by proposing that the employer portion of the normal costs of teacher pensions be shifted from … Continue reading
For Municipal Pensions, the Can Has Reached the End of the Road
Pensions are now cutting into essential services. This needs to be fixed, and there are no easy solutions. Continue reading
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 Illinois Budget, Public Pensions
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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
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
Posted in Education, Illinois Budget, Public Pensions
Tagged Chicago Public Schools, Education Funding, Public Pensions
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