With billions in unfunded pension liabilities, what options remain for lawmakers to defuse the state’s pension time bomb?
Pension
After massive layoffs in Harvey because of its underfunded pensions, a look at which other municipalities could be in similar trouble.
The state is withholding tax money from south suburban Harvey because it has fallen behind on its pension payments. Will others follow?
Ralph Martire of the Center for Tax and Budget Accountability explains this week’s ruling and what city leaders might do next to address the Chicago Park District’s financial woes.
Illinois’ state employee pension plan, one of the largest in the nation, has retired from hedge funds. Find out why.
Lawmakers consider a radical new proposal to solve the state’s massive pension crisis. Why they think it’s the best way to go.
As Chicago property owners pay more money toward teacher pensions, a look at where exactly the money is going.
Retirement can be lucrative for some former Illinois educators who are taking home pensions from the state’s Teachers Retirement System. A records request submitted by Chicago Tonight reveals the top 200 pension earners receive well into the six figures.
A taxpayer watchdog group releases a list of the top 200 pension earners in Chicago, and all of them make more than six figures annually. But are high benefits the only reason Chicago taxpayers are drowning in red ink?
The head of the Chicago Teachers Union joins us with a report on the first day of school.
Exactly how much more money can Chicago homeowners expect to pay to fund Chicago teacher pensions?
Preliminary numbers released Monday show that the city’s financial picture is improving. But is the news all good?
The new state budget includes significant cuts and a higher income tax. So now what? We address some lingering questions about the fiscal health of the state—and the city.
Schools are already out for the summer, but this Friday marks the final business day in Chicago Public Schools’ fiscal year, and with that comes a looming $700 million payment the district owes to its teacher pension fund.
Facing an ongoing lawsuit brought by Chicago Public Schools and increasing calls to restore vetoed funding to the cash-strapped school district, Gov. Bruce Rauner is urging “swift action” to enact statewide pension reform in a new Republican-led bill.
Under pressure to send Chicago Public Schools cash following a social media lashing from Chance the Rapper, Gov. Bruce Rauner’s administration is intensifying pressure on Chicago Mayor Rahm Emanuel and Democrats to act.
