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Category Archives: Public Pensions
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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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
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
Why I’m Not Taking a Pension
Last week I told you that I have elected to opt out of the General Assembly Retirement System (GARS), and thus will not be eligible for the legislative pension. There are a number of reasons why, and I’d like to … Continue reading
Dance Band on the Titanic
There’s an old saying that bad news comes in threes. It’s certainly true today for Illinois. First comes the news that Illinois’ insurance rates under Obamacare are set to skyrocket by 43%-55% at the end of the year. Nothing about … Continue reading