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Posts in category "Uncategorized"

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 »
By Civic Committee,
May 8, 2012 at 4:31 pm
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Illinois' Governor Quinn Unveils Pension Reform Proposal

Last week, Governor Pat Quinn offered the outlines of a pension reform proposal that is an important first step in addressing Illinois’ massively underfunded public pension system. The plan calls for a 3% hike in employee contributions, phasing in an increase in the retirement age to 67, reducing cost of living adjustments, and shifting some... Read more »
By Civic Committee,
April 24, 2012 at 12:16 pm
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The Solution is Pension Reform. Let's Work Together to Save Our State.

Thumbnail image for 'The Solution is Pension Reform. Let's Work Together to Save Our State.'
Illinois has a major problem on its hands — and, it’s not going away. It’s Illinois’ pension problem. And, it impacts us all. Whether you are a hard-working teacher, employee of the State, a taxpayer or a family trying to make ends meet, everyone in Illinois is affected. Watch here to learn more. How serious... Read more »
By Civic Committee,
March 26, 2012 at 10:49 am
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Pension Reform Advances in Springfield.

An important step in the right direction happened  when the House Personnel & Pensions Committee voted 5-4 to send Senate Bill 512 to the full House for review. Elected officials need to hear from YOU! Tell them you support SB 512 and that they should too. Failure to pass this bill will mean the State’s... Read more »
By Civic Committee,
November 10, 2011 at 9:59 am
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PENSION REFORM FIRST

By now you’ve seen the billboards. We are asking the Illinois legislature to address the pension crisis that is breaking the state budget and causing a financial meltdown in our state. We need your help to spread the word: “Pension Reform First.” It’s clear. Our current pension program is unsustainable and it is not only bankrupting our state... Read more »
By Civic Committee,
October 5, 2011 at 4:28 pm
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The Revenue Demands of Public Employee Pension Promises

An often-stated goal of public employee pension systems is to achieve fully funded pension systems in 30 years. In a newly released paper with Robert Novy-Marx, covered in a New York Times article, we calculate the increase in contributions that will need to be devoted to these funds on an annual basis to achieve this goal, starting with... Read more »
By Civic Committee,
June 24, 2011 at 11:51 am
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Pension vote hours away -- call your legislators now!

It all comes down to this. We just got word that the historic pension reform bill you’ve supported for so long could come to a vote in the next few hours. Call your legislators right now and tell them to vote “yes” on Senate Bill 512. Even if you’ve already contacted them, they need to... Read more »
By Civic Committee,
May 26, 2011 at 11:17 am
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A Message from CPS teacher, Nate: Save my classroom

My name is Nate, and I’m a teacher in a Chicago Public School. I love my job. No matter how long or hard I have to work, it’s always worth it to see my students learn and grow. But our massive pension debt — more than $100 billion and rising — is sucking money away... Read more »
By Civic Committee,
May 19, 2011 at 7:02 pm
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Worse than California

Think California is having economic problems? Moody’s just announced that we have the second-worst credit rating of any state in the country, just behind California. But it’s worse for us because we have a problem that they don’t have — a pension crisis that’s only getting more dangerous. We’re ranked dead last in the country... Read more »
By Civic Committee,
May 6, 2011 at 2:44 pm
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It's time to act

You know what’s at stake — now we need to get to work. We’re just weeks away from a potentially historic vote on pension reform legislation that could save our state from financial disaster. I am writing, from one Illinoisan to another, to ask for your help in sending a powerful message to our leaders... Read more »
By Civic Committee,
April 28, 2011 at 1:34 pm
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