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Capitol Updates: May 13 week in review
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Chicago Teachers Union President Karen Lewis wins second term
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PRESS RELEASE: "Cost shift" more affordable for schools if Illinois adopts a 401(k)-style retirement system for government workers
5/17/2013
Pension cost shift: why school districts would benefit from a 401(k)-style retirement plan
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City of Chicago plan revealed for public funding of private, DePaul University stadium
5/17/2013
State 48
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9/28/2012




 




Illinois’ state debt:

  • Illinois' total state debt is $271 billion
  • Illinois' state debt has ballooned to $51,000 per household
  • Illinois has roughly $9 billion in unpaid bills
  • Illinois will spend more on pensions than on education by 2016

Illinois’ economic performance:
  • Illinois is 47th in job growth
  • Illinois is 48th in economic outlook
  • Illinois is 48th in economic performance
  • Illinois is 48th in net domestic migration 
  • Illinois is 48th in average workers’ compensation costs
  • The rate of entrepreneurship in Illinois has been below the national average every year since 1996, with the exception of 2001
  • Chicago is tied with Detroit for the worst entrepreneurship rate among the 15 largest metropolitan areas in the country
  • Illinois has had 12 credit downgrades since 2008
  • Illinois has more units of local government than any other state in the nation
  • Illinois hiked state income taxes by 67%
  • Rate of entrepreneurship below national average last 15 of 16 years
  • Worst credit rating in the nation
  • Illinois has had 12 credit downgrades since 2008
  • It will take 43 months for Illinois’ unemployment rate to recover to its pre-recession low, given the current pace of job creation and assuming no growth in the labor force
Illinois’ pensions: 
  • Illinois has the worst funded pension in the nation
  • Illinois' pension inaction costs the state $18 million per day
  • Illinois pension funds need 19 percent annual investment returns in order to pay for the promised benefits

Illinois’ health care: 
  • Medicaid reimbursement rates are among the worst in the nation


It's no surprise Illinois loses 1 resident every 10 minutes.


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