Pensions

Chicago property taxes have doubled in 10 years, thanks to pensions

Chicago property taxes have doubled in 10 years, thanks to pensions

Chicago’s government pension obligations have increased nearly sixfold since 2014, driving up Chicago’s sky-high property taxes. Another increase for 2025 was likely avoided, but city leaders need state lawmakers to make a permanent fix.

By Bryce Hill

Illinois state pension debt climbs to $144B

Illinois state pension debt climbs to $144B

Illinois' unfunded statewide public pension liabilities grew another $1.5 billion in the past year. Better investment returns couldn’t keep up with public worker pensions growing faster than projected.

By LyLena Estabine

Suburban Chicago mayor calls for pension reform

Suburban Chicago mayor calls for pension reform

Elk Grove Village Mayor Craig Johnson said state lawmakers need to step in and help fix public pensions. Pension debt is the biggest driver of Illinois’ property taxes, which are the second-highest in the nation.

By Dylan Sharkey

Illinois needs responsible Tier 2 pension reform

Illinois needs responsible Tier 2 pension reform

Illinois is at risk of getting in costly trouble with the federal government over its Tier 2 public employee retirement benefits. Here’s a solution that doesn’t make the state’s monstrous public pension debt even worse.

By LyLena Estabine

Chicago has more public pension debt than 43 states

Chicago has more public pension debt than 43 states

Chicago’s pension systems for city workers have $51 billion in debt, so much that they are in worse shape than 43 states. Fixing them requires Chicago’s mayor to push for a change in the Illinois Constitution.

By Ravi Mishra

Pension reform vote coming to suburban Chicago township

Pension reform vote coming to suburban Chicago township

Barrington Township will be the first local government in Illinois to give taxpayers a vote on reforming the single-largest property tax driver in the state: public pensions. The advisory referendum will be on the ballot Nov. 5.

By Patrick Andriesen

Illinois may take on massive public pension boost with no clue on costs

Illinois may take on massive public pension boost with no clue on costs

Several bills that enhance Tier 2 state worker pension benefits, reduce retirement ages, allow for large end-of-career lump-sum payments and other pension sweeteners are moving through the Illinois General Assembly. They appear to be heading for a vote.

By Bryce Hill