Public Pensions

Pension Changes in the FY2018 Budget: Short-Term Savings and Long-Term Costs

Release: October 10, 2017

The changes made to Illinois public pension systems in Public Act (PA) 100-0023 (introduced as Senate Bill 42), the Budget Implementation Act, or BIMP, passed on July 6, 2017, and include two primary elements. First, the BIMP creates a new Tier 3 level of benefits for public sector workers. Second, the BIMP permits the state to smooth out the fiscal impact of the actuarial reduction in the assumed rate of return generated by the state’s five pension systems.

CTBA's Testimony and Presentation to the Pension Conference Committee

Release: July 3, 2013

CTBA's 2013 testimony and presentation to the Pension Conference Committee.

HJRCA 49: A Constitutional Amendment Regarding the Rules Governing Pension Benefit Increases

Release: August 27, 2012

This Issue Brief provides an overview of the state pension systems' underfunding and an analysis of House-Joint Resolution Constitutional Amendment (HJRCA) 49. HJRCA 49 would create a new section to the Illinois Constitution. 

Issue Brief: Analysis of the Governor’s Office of Management and Budget’s Pension Stabilization Summary

Release: August 1, 2012

This Issue Brief provides a synopsis of the core changes the Quinn Administration proposed for the state pension systems and an analysis of the cost saving estimates produced by the Governor's Office of Management and Budget. 

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