The Illinois Supreme Court’s recent ruling on health insurance for State retirees is expected to increase State costs by approximately $128 million through FY2015, according to the Department of Central Management Services. Although…
A court ruling on health insurance for retired State of Illinois workers could put additional pressure on the State’s stopgap budget for the year that began on July 1, 2014…
Despite criticizing the General Assembly for not passing an adequate budget for the new fiscal year, Governor Pat Quinn…
UPDATE: In addition to the Teachers’ Retirement System (TRS), two other large State of Illinois pension funds have also lowered their assumed rates of return on investment. Both the State Universities Retirement System (SURS) and the…
Under Illinois law, the State is required to share a certain portion of state income tax receipts with municipal and county governments…
Although Governor Pat Quinn originally proposed a capital budget for FY2015…
State statute governs all benefits and funding of public pensions for the City of Chicago. The City cannot contribute more to its pensions than the multiple of employee contributions allowed under state statute. There has unfortunately…
UPDATE: Illinois General Assembly Passes FY2015 Budget On May 30, 2014, a day before the end of the Illinois General Assembly’s regular spring session, the Senate passed the FY2015 budget previously approved by the House. As discussed…
