Posts in category "Uncategorized"

Tell Lawmakers to Support SB1

You’ve read about it in the news. Lawmakers across party lines agree pension reform is critical to saving our state and its pension funds. We applaud the dialogue around this important issue. But, meaningful reform must incorporate significant financial savings or it’s not real reform. Tell your legislators to support SB1 as it will generate... Read more »

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 »

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 »

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 »

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 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 »

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 »

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 »

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 »