Fact check: Pritzker budget takes from college students, gives to pensions

By Dylan Sharkey

05/16/2022

Gov. J.B Pritzker has touted his record on higher education funding, even hinting many students should be given free tuition, but pensions are driving up tuition and eating state university funding. Pritzker refuses to tame that beast.

TAGS: college tuition, education spending, SURS: State Universities Retirement System

The 1%: Illinois’ pension millionaires

By Austin Berg

01/23/2020

More than 129,000 Illinois public pensioners will see expected payouts of $1 million or more during retirement.

TAGS: 401(k), government unions, ILGA: Illinois General Assembly, Illinois, JRS: Judges’ Retirement System, pension guarantee, pensions, private sector, public sector, SERS: State Employee Retirement System, Social Security, Springfield, SURS: State Universities Retirement System, TRS: Teachers’ Retirement System

Illinois pensions 101: Paltry contributions yield million-dollar payouts

01/17/2020

Across all five state retirement systems, typical career workers pay for about 5% of the cost of their pension benefits. They receive an average of $1.7 million to $3.6 million.

TAGS: Edgar Ramp, firefighter pensions, GARS: General Assembly Retirement System, government employees, government services, government unions, government workers, IEA-NEA: Illinois Education Association, IFT: Illinois Federation of Teachers, ILGA: Illinois General Assembly, Illinois, Illinois Constitution, Jim Edgar, JRS: Judges’ Retirement System, municipal government, municipal pensions, pension guarantee, pensions, police pensions, public sector, retirement age, Rod Blagojevich, SERS: State Employee Retirement System, Social Security, social services, Springfield, SURS: State Universities Retirement System, tax hikes, tax increase, TRS: Teachers’ Retirement System

Illinois pension buyout program delivers just 3% of projected savings

By Vincent Caruso

07/29/2019

A plan that allowed some pension enrollees to cash in early on their earned retirement benefits in exchange for curbing future benefits has so far generated only 3% of its expected savings.

TAGS: municipal pensions, pension guarantee, pensions, property taxes, SERS: State Employee Retirement System, SURS: State Universities Retirement System, taxes, TRS: Teachers’ Retirement System

Illinois state and local governments spend most in nation on pensions

02/22/2019

According to recent data, Illinois spends nearly double the national average on pensions, measured as a percentage of all state and local government spending.

TAGS: GARS: General Assembly Retirement System, JRS: Judges’ Retirement System, municipal pensions, pension guarantee, pensions, property taxes, SERS: State Employee Retirement System, SURS: State Universities Retirement System, taxes, TRS: Teachers’ Retirement System

Southwestern Illinois home to 340 pension millionaires

By Brad Weisenstein

12/21/2018

A former Edwardsville university administrator and a retired judge each have collected more than $3 million in pension payments. Too little paid in with too much taken out is the heart of Illinois’ pension crisis.

TAGS: higher education, pension guarantee, pensions, SERS: State Employee Retirement System, SURS: State Universities Retirement System

More than 19,000 Illinois government retirees receive pensions over $100K

By Janelle Cammenga

11/21/2018

The average six-figure retiree contributed just over $160,000 toward their own pension over the course of their career.

TAGS: GARS: General Assembly Retirement System, IMRF: Illinois Municipal Retirement Fund, municipal pensions, pension guarantee, pensions, property taxes, SERS: State Employee Retirement System, SURS: State Universities Retirement System, taxes, TRS: Teachers’ Retirement System

Former University of Illinois athletic director’s pension to climb past $500K a year

By Brendan Bakala

11/08/2017

Six years into retirement, Ron Guenther’s annual pension is more than $470,000 and is set to rise even higher, thanks to 3 percent yearly increases.

TAGS: higher education, pensions, Ron Guenther, SURS: State Universities Retirement System, University of Illinois

Illinois universities’ problems are largely self-inflicted

By Ted Dabrowski, John Klingner

09/15/2017

Illinois universities are blaming the recent budget impasse for their declining enrollment and financial problems. But the problems in higher education started long before the budget fight, and are largely self-inflicted.

TAGS: budget, higher education, Illinois Board of Higher Education, pensions, SURS: State Universities Retirement System

Illinois senator’s proposal offers pension reform through 401(k)-style plans

By Ted Dabrowski

05/11/2017

State Sen. Dale Righter, R-Mattoon, has proposed a plan that would give all state workers access to retirement plans that offer portability and flexibility – and an escape from Illinois’ broken pension system.

TAGS: Dale Righter, pensions, SURS: State Universities Retirement System