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One of the consistent themes we have talked about here over the last few years is the concept that Return On Investment (ROI) assumptions for all the state pension systems is too high. What…
Read MoreOne of the more common myths surrounding pension funding is the claim that the state (i.e. taxpayers) has not done its part and in fact has not made required payments often “skipping” payments. This…
Read MoreWell the progressives are at it again. They are eager to pass some new meaningless laws so they can feel better about themselves. No need for the new laws and regulations to actually do…
Read MorePension insanity or “Constitutional” insanity or both? The issue of outrageous pensions and salaries continues to be ignored in Springfield as politicians of both parties ignore the real problem with pensions and concentrate on…
Read MoreAs Illinois citizens struggle with the severe economic downturn plaguing the state, Illinois public school employees enjoy another record year of salaries, fringe benefits and pensions. Apparently there is no tax money for the…
Read MoreOne of the many Chicago area school districts threatened by teacher strikes, Barrington School District 220 shows again the immense power of the IEA (Illinois Education Association) in Illinois. Despite an average of 19%…
Read MoreThey say that knowledge is power. That being the case, this list of Ten Things you probably don’t know about Illinois State pensions is packed with enough information to make Illinois taxpayers realize what…
Read MoreAs I have written many times over the years the $82 billion figure was a made up number, a rosy scenario or a best case scenario. And now GASB agrees with me, Professor Josh Rauh…
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As politicians of both parties struggle with the seemingly unending negotiations on pensions they are ignoring the biggest overwhelming problem with government in Illinois i.e. the ever increasing cost of public employee compensation. In…
Read MoreAs most Illinois citizens know IL passed a law in 1994(Public Act 88-0583)that required the state to make required pension contributions that would provide 90% funding by 2045. Those required payments would start July…
Read MoreOnce more we see the fecklessness of Illinois politicians in their phony, unworkable so called “solutions” to the pension problem. The current flavor of the day is Gov. Quinn’s. There is only one solution…
Read MoreThe Illinois Constitution famously contains the words “diminish or impaired” which are commonly used by teachers and others to justify outrageous and costly pensions: Membership in any pension or retirement system of the State,…
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Recently the Chicago Tribune published a letter from Paul Easton, an English teacher at New Trier High School District 203. Among other complaints, Mr. Easton bemoans the “pummel(ing)” teachers have been taking at the…
Read MoreThose who create the costs should pay for the costs. My, my, there is certainly a lot of wailing and gnashing of teeth over Gov. Quinn’s proposal to ask the local school district’s to…
Read MoreMichael Corn, a retired college teacher, recently wrote a letter-to-the-editor at the Daily Herald equating the unfunded Illinois pension system with theft. And I agree it is theft but I would argue the thief…
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