LexisNexis® Legal Newsroom
Illinois OK'S Pension Overhaul

by Korey Clark After years of neglect and stalemate, Illinois lawmakers approved a plan last week to address the largest public pension shortfall in the nation. The plan (SB 1), passed by a vote of 62 to 53 in the House and 30 to 24 in the Senate, calls for, among other things, skipping cost-of-living...

Illinois Pension Politics

by Korey Clark The pension overhaul passed in Illinois last week isn't quite a done deal yet, with unions vowing to challenge it in court (see Illinois OK'S Pension Overhaul ). But even getting the plan to Gov. Pat Quinn's (D) desk took quite a bit of doing. One major challenge facing...

State Pensions Could Be 61 Percent Underfunded

States have only 39 percent of the assets they need to cover their public employee pension obligations, according to an estimate from State Budget Solutions, a non-partisan, non-profit, national public policy organization. That estimate is based on an annual investment return of 3.2 percent (the 15-year...