March 16 at 8:01 a.m.
Filed under:
Government,
Retirement
By Dow Jones Newswires-Wall Street Journal
Lawmakers in Illinois say they may try to fix the state’s ailing pension system by asking current workers to pay more into the plan, though the approach faces substantial legal and political obstacles.
The lawmakers are also entertaining the politically difficult idea of applying broader pension changes made this year for newly hired employees to current workers. Those include raising the retirement age and scaling back on annual cost-of-living raises.
Whatever approach is embraced, it remains unclear whether such strategies would fix the Illinois system, which is 45 percent funded. That makes it the most under-funded state plan in the U.S., according to Moody’s Investor’s Service. Get the full story »
Feb. 18 at 11:40 a.m.
Filed under:
Economy,
Policy,
Politics
From Bond Buyer | Illinois plans to sell $3.7 billion of taxable general obligation bonds Tuesday and Wednesday, the state said Friday morning.
Feb. 11 at 4:49 p.m.
Filed under:
Policy,
Politics,
Retirement
By Reuters
Illinois’ lingering fiscal problems will be center stage in the U.S. municipal bond market next week as the state sells $3.7 billion of bonds and as its governor unveils a budget plan for the upcoming fiscal year. Get the full story »
Jan. 28 at 4:16 p.m.
Filed under:
Economy,
Policy,
Politics,
Retirement
By Clout Street
Mayor Richard Daley’s administration unveiled a plan Friday for police and fire pension reform that would increase employee contributions as part of a package it hopes would save Chicago property taxpayers $240 million per year compared to a bill Gov. Pat Quinn signed into law earlier this month.
Jan. 14 at 7:25 a.m.
Filed under:
Autos,
Labor,
Unions
By Associated Press
General Motors Co. has completed the contribution of 60.6 million shares of its stock to its U.S. hourly and salaried pension plans, wrapping up the last part of its planned $6 billion in payment. Get the full story »
