Governor's Budget Projection Shows Illinois' Continuing Financial Woes
Despite savings from recently enacted pension reforms,…
Despite savings from recently enacted pension reforms,…
States inevitably face lawsuits when they attempt to ease budgetary pressures by cutting pension payments to current employees and retirees. While the legal battle over Illinois’…
The following posts were among the most highly read on the Institute for Illinois’ Fiscal Sustainability’s blog in 2013 and represent some of the most closely followed Illinois fiscal issues this year:…
On December 18, 2013, the Illinois General Assembly held its first hearing on the plan to apply for a federal waiver to overhaul the State’s Medicaid program…
The pension plan enacted by the State of Illinois on December 5, 2013 may preserve more of the benefit increases for current employees than is widely…
After decades of dire warnings and several years of legislative negotiations, the Illinois General Assembly on December 3, 2013 passed…
Legislative action on reducing the State of Illinois’ massive pension obligations could come as soon as next week, but the details of the latest pension reform proposal and its potential impact on the State’s financial condition have not…
The State of Illinois will need to contribute somewhat more to its five retirement systems in FY2015, but the growth will be less than previously projected due mainly to strong investment returns. Pension contributions required by State…