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Tag Archives: Public Pensions
Illinois Can’t Balance It’s Budget by Taxing Retirement Income
Back in December, the Northwest Herald ran a story about a proposal to make retirement income subject to Illinois income tax. On December 2, Rep. Dave McSweeney sponsored House Resolution 890, which states that: “We state our belief that the … Continue reading
Posted in Public Pensions, Uncategorized Tagged Dave McSweeney, Illinois Budget, Public Pensions 2 Comments
Choosing Among Bad Options to Fix Our Pension Mess
So now we know that next year the State of Illinois will have to shell out 24% of its state budget just to pay pensions, and we strongly suspect that we’re having smoke blown at us if we believe the … Continue reading
Is the Underfunding of Our Pensions 3 Times More Than Advertised?
We’re being told that our public pension plans are underfunded by $111 billion. That’s bad enough, but what if the underfunding is actually 3 times that amount? Continue reading
19% of Illinois’ Budget Goes to Pensions, and That Number is Going UP
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
I’m Shocked! Shocked to Find That Illinois Can’t Make Its Pension Payments!
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