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Tag: University of Illinois Institute of Government & Public Affairs
Symbol of the State of Illinois
News from Springfield … The University of Illinois Institute for Government and Public Affairs has released the result of its study, the Fiscal Futures Project. Key findings were that while the changes to four out of the five Illinois state-funded pension systems will eliminate their unfunded liability over the next 25 years, Illinois’ deficit will...
NIU President John G. Peters
Dear Colleagues, I am writing to you today to update you with some very important information relative to the very fluid pension debate in the General Assembly in Springfield. Thursday afternoon, the Illinois Senate approved an amended version of Senate Bill 2404, a union-backed proposal sponsored by Senate President John Cullerton that offers Tier I...
'Road to Retirement' highway sign
A group of Illinois university professors and administrators has released a plan to reform the retirement system for university employees. An Institute of Government and Public Affairs proposal released Monday recommends letting workers trade a portion of their guaranteed benefits for a lump-sum payment which would go into a self-managed retirement account. “Consideration of a...
State Pension & Budget Update
As work begins in Springfield on the FY2012 budget, the state’s financial well-being is once again a topic of extreme interest. “While the tax hikes approved at the end of the last legislative session will provide some new revenue, and some relief for the state, it is just one of many steps required to restore...