As public pension liabilities around the nation continue to grow, public officials and pension fund boards are looking into alternatives to traditional defined benefit (DB) pension plans. Two kinds of “hybrid” retirement plans have…
Despite increased revenues from higher income tax rates and a…
In light of the State of Illinois’ pension funding crisis, it has become more widely understood that the annual Cost of Living Adjustment, or COLA, plays a large role…
As part of the spring legislative session, the Illinois General Assembly approved a sweeping reform measure intended to add transparency, accountability and competition to the State’s…
State of Illinois officials expect unpaid Medicaid bills to decline to $600 million by the end of the 2013 budget year, but that prediction depends on…
The following opinion piece by Civic Federation President Laurence Msall was published by Crain's Chicago…
This blog post was updated on June 4, 2012 to reflect corrected information. With just hours to go before a midnight adjournment deadline, the Illinois General Assembly has passed most components of a legislative package designed to…
UPDATE: On Thursday, August 2, 2012, Governor Quinn signed legislation to require all counties to release their financial statements within six months of the end of their fiscal year as…
The Illinois General Assembly passed legislation to end the Legislative Scholarship Program as of September 1, 2012—allowing lawmakers one more opportunity to award the…
With two weeks left to go before the Illinois General Assembly is scheduled to adjourn, two budget plans for FY2013 are on the table: Governor Pat Quinn’s recommended budget and an alternative budget framework approved by the Illinois…
