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Tag: pensions

Pensions still under pressure despite good news in 2021 report

Pensions still under pressure despite good news in 2021 report

— December 9, 2021

SPRINGFIELD – The state saw its unfunded pension liability decrease in fiscal year 2021 for the first time in four years, due in large part to investment returns exceeding 20 percent,…

  • Pritzker reflects on first year in office, looks ahead to 2020

    Pritzker reflects on first year in office, looks ahead to 2020

    — January 22, 2020

    SPRINGFIELD – On Jan. 14, 2019, Democratic Gov. J.B. Pritzker was sworn into office. A billionaire businessman from Chicago with no prior experience as an elected official, he took…

  • Illinoisans saved $8.5 million in first year of new Secure Choice

    Illinoisans saved $8.5 million in first year of new Secure Choice

    — November 22, 2019

    SPRINGFIELD — Illinois Treasurer Michael Frerichs on Nov. 18 continued to promote a new state program which he says is a first step to alleviating a nationwide “retirement crisis.”…

  • Mayor Lightfoot: All options on table for plugging $838 million budget gap

    Mayor Lightfoot: All options on table for plugging $838 million budget gap

    — September 4, 2019

    Chicago Mayor Lori Lightfoot says that the city must come together to face its tough fiscal problems and that she will look to join forces with other municipalities in the state to…

  • Judges say IHSA not required to release pension details

    Judges say IHSA not required to release pension details

    — August 18, 2016

    The Illinois High School Association brings in revenue from state-funded high schools, but judges ruled that does not mean it needs to disclose how it funds its pension plan. Because…

  • Pritzker signs pension consolidation bill into law

    Pritzker signs pension consolidation bill into law

    — December 21, 2019

    SPRINGFIELD — A new law signed by Democratic Gov. J.B. Pritzker Wednesday will consolidate 649 downstate and suburban police and firefighter pension funds into just two. Pritzker…

  • Pressure on property taxes mounts for towns across Illinois

    Pressure on property taxes mounts for towns across Illinois

    — November 3, 2019

    In the heart of Illinois, the city of Peoria cut its workforce by almost one-fifth to pay its annual obligations for police and firefighter pensions. In northern Illinois, Waukegan…

  • Teachers call for raising salary cap, union says 3% limit too low

    Teachers call for raising salary cap, union says 3% limit too low

    — May 27, 2019

    SPRINGFIELD — The state’s largest teachers’ union on Wednesday, May 22 called on Illinois lawmakers to lift a state-imposed cap on the size of pay raises they can receive, saying…

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