Tag Archives: Public Pensions

Debt Option #1: Front-Loading Pension Payments

Long before I was elected to the House, I’ve been talking about Illinois’ pension crisis (here, here, here and here, to name a few). Since that time, our accumulated pension debt has risen from “just” over $100 billion to somewhere … Continue reading

Posted in Cost of Government, Illinois Budget, Public Pensions | Tagged , , | 1 Comment

What to Do About Illinois’ Debt (And Death is Not an Option)

With more than $7 billion of unpaid bills and (depending on who you ask) $130-$200 billion in unfunded pension liabilities, a credit rating hovering just above “junk” status and people and businesses fleeing in droves, there are no easy answers … Continue reading

Posted in Cost of Government, Illinois Budget, Public Pensions, State Government | Tagged , , , | Leave a comment

My New Year’s Wish for Illinois

It’s January 1, and we’re a little over a week from starting a new General Assembly and less than two weeks from swearing in a new Governor. Republicans in Springfield have no choice but to hope that despite being in … Continue reading

Posted in Property Taxes, Public Pensions, State Government | Tagged , , , , , | Leave a comment

Cost Shifting is Buck Passing By Another Name

Governor Rauner certainly got everyone’s attention last week when he proposed that the employer’s share of pension costs be shifted from the State to local school districts. The pension shift has been a topic of conversation for some time. House … Continue reading

Posted in Illinois Budget, Public Pensions | Tagged , | Leave a comment

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

Posted in Public Pensions | Tagged , | 1 Comment