Posts tagged "pension"

Illinois pension debate overlooks role of public-sector jobs in sustaining the middle class

Illinois pension debate overlooks role of public-sector jobs in sustaining the middle class
Pensions have become a thorny and contentious issue in Illinois.  The state has the worst funded pension liability in the country, with only 24 percent of the money it promised retirees available, according to State Budget Solutions, a national research group. Gov. Pat Quinn, who gets much of the blame for the crisis, even tried... Read more »

Should private lobbyists in Illinois get publicly funded pensions?

Should private lobbyists in Illinois get publicly funded pensions?
If the word “lobbyist” brings to mind someone working against the public interest, listen closely: Illinois is one of at least 20 states where private lobbyists can collect public pensions. According to an investigation released this week by the Associated Press, decades-old laws allow lobbyists who represent associations of states, counties, cities and school boards... Read more »

Race, poverty and politics: Unemployment down; Chicago to invest in homeless outreach; Preckwinkle still supports drug law changes

Mayor Rahm Emanuel has announced that his administration will pump $2.5 million into homeless services in Chicago. “Plan 2.0″, as it is being called, will see the city invest in outreach services, job preparation and placement opportunities, as well as supportive housing. The money comes from “existing city funds,” and will come at “no additional... Read more »
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Race, poverty and politics: Pension reform punted ... again; city pot ordinance moves to council vote; state prison closures

Gov. Quinn’s proposed pension reforms have hit a roadblock as legislators continue to argue over a proposed plan by Senate Democracts to shift pension costs from the state to suburban and downstate school districts. Republicans argue this would cause a rise in property taxes, something they are steadfastly against. Only days ago, a report by... Read more »

Race, poverty and politics: Springfield passes some bills at deadline, skips some; gun violence on the rise; where's the NATO money?

The folks over at the Chicago Reader have been dutifully following the money around May’s NATO summit in a case they have dubbed “the nebulous NATO grant funds.” When the summit plans were first announced, a chunk of the money to pay for it was expected to come from federal grant money (and the rest... Read more »

News roundup: Chicago banks refinance their bailout for cheaper Fed program

The first four of Chicago’s small banks to pay back the federal government for the Troubled Asset Relief Program funds they received turned around and refinanced with a cheaper  federal bailout program, despite the fact that all but one were profitable during the first half of the year. The banks, including Hanover Park’s First Eagle... Read more »
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