Posts in category "Reports"

Illinois Pension Crisis Now Unfixable

You’ve heard it from policy reports and the news media, Illinois has reached a “fiscal cliff.” Sounds bad, right?  Terrifying, even. But in fact, it’s much worse.  Because our elected officials have been unwilling to make the tough decisions necessary to save our state, Illinois and its pension funds now have nearly $200 billion in debt triggered by... Read more »

Just The Facts: A Primer on Illinois Pensions

Over the last few years we have all been engaged in an effort to find a sensible, workable solution to Illinois’ pension crisis. Simply put, the current pension system is unsustainable and poses the threat of overwhelming the state’s budget if left unaddressed. More immediately, the state’s broader budget issues cannot be resolved until the... Read more »

The Time to Act is NOW! Tell Legislators "Pension Reform First"

The Time to Act is NOW! Tell Legislators "Pension Reform First"
Who got us into this mess isn’t as important as who will get us out. Your legislators head down to Springfield tomorrow and have just three days to address the disastrous pension crisis facing each and every one of us. Illinois’ retirement programs for State employees and teachers are $140 Billion short. That’s right, $140... Read more »
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Illinois Is STILL Broke -- And, Our Children Will Pay

Illinois Is STILL Broke -- And, Our Children Will Pay
  Illinois’ retirement funds are $140 Billion short. Yes, BILLION — and they’re in trouble. Let’s put it this way: to make up for our deepening deficit, each person living in Illinois will have to pay $30,000 – that’s $857 a year for the next 35 years or $71 a month – not including interest,... Read more »

“Illinois is Broke” Launches TV Ad Campaign

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  Failure to act in veto session will cost IL taxpayers another $7+ billion Chicago, Ill. – Just one week from the start of the state legislature’s fall veto session, the Illinois Is Broke campaign is ratcheting up pressure on lawmakers to address the state’s badly underfunded pension systems before tackling all other issues.  Today,... Read more »

We Support Our Teachers - You Should Too!

We Support Our Teachers - You Should Too!
Last week, we released a video to inform suburban and downstate teachers in Illinois that their pensions are at risk. As you know, there are two sides to every story, and we felt it was important that teachers hear some of the facts that their leaders and others are not telling them. As you can... Read more »
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Civic Committee Reports that Chicago's Pension Funds Badly Underfunded

Without Reforms, Funds Could Run Out of Money in the Next 10 Years The Mayor’s Commission to Strengthen Chicago’s Pension Funds released its report today.  Although the four City pension funds are badly underfunded, the Commission’s report recommends little more than the reforms enacted into law by the Illinois legislature a few weeks ago, which... Read more »