News

$100k Extra Needed for Illinois Pensions Next Year

$100k Extra Needed for Illinois Pensions Next Year

Photo: Newsradio WTAX

The amount Illinois must pay to keep pace with its pension systems should grow less than 2 percent next year but still total nearly $7 billion.

A state actuary’s report that Auditor General William Holland released today says $6.86 billion is due in the fiscal year that begins July 1. That’s up about $100 million from this fiscal year. Lawmakers adopted a reform plan in early December but it doesn’t take effect until June 1 and has been challenged in court.

The actuary suggested that three systems covering teachers, university employees and general state employees lower the estimated investment return they expect. It made the same suggestion last year but the numbers didn’t change.

Recent Headlines

yesterday in Local

Multiple Accidents on Dirksen Injure Seven, Two Critically

photowreck2

Two accidents on Dirksen Pkwy. injured seven people, and they were related.

yesterday in Local

Public Comments Invited on Rules for Medical Pot

marijuana

The proposed rules for medical marijuana are now available for public comment

yesterday in Local

Fuzzy Language in Law Could Draw University Employees to Retire Early

illinois logo

A wrinkle in the pension story in Illinois is the almost immediate retirements of hundreds of university faculty members

yesterday in Local

WIU Acknowledged for Arts, Creativity

western-illinois-university

Small-town and rural Illinois are not devoid of creativity

yesterday in Local

Public’s Help Needed to Identify Vandals

handcuffs

Vandals scratched vehicles and also used rocks and a BB gun to damage windows on homes between April 7th and 13th.