Tag: pension

Illinois should tax retirement income

Republican governor candidate Bruce Rauner created headlines on Friday when he said in a debate that he wouldn’t rule out taxing retirement income as part of an overhaul of Illinois’ tax system. He said he doesn’t have a position on that right now, but he should. And that position–as with all other candidates–is that all... Read more »

Wanted: Illinois pols to challenge public employee unions

The primary election is Feb. 2. Do you know who will take on the public employee unions and their pensions? Because if we can’t elect people who are committed to figuring out how Illinois will crawl out of an $80 billion-plus debt owed to public employee pension funds, the state surely will get flushed. Illinois... Read more »

Chicago pensions consuming your city services

An item from the do-you-wonder-why-Chicago-is-such-a-financial-mess department? This is from the 2010 budget that Mayor Richard M. Daley unveiled on Wednesday (Page 44): Pensions and debt service In 2010, 43.3percent of the city’s general levy, or $345 million, will be used to fund pension contributions for city employees. State law mandates that the city contribute an... Read more »