Pensions
Released September 27, 2017
Illinois' fiscal year 2018 budget introduced major changes to the state's public pension systems in an attempt to grapple with Illinois' roughly $130 billion in unfunded liabilities. One of the most important aspects of these changes was a new package of benefits.
Released August 14, 2017
While the Illinois Senate voted on Sunday to override the Governor's amendatory veto (AV) of SB1, the Evidence-Based Model for education funding reform, a new CTBA analysis has identified at least six aspects of the AV that would each threaten the ability of Illinois school districts to reach ade
Released June 23, 2017
Every school district in Illinois except for the Chicago Public Schools has its teacher pension payments made by the state as a consolidated payment to the Teachers Retirement System.
Released January 21, 2016
Ever want to know what the average pension is for a state employee? What’s a funding ratio, and what are the funding ratios for the different pension funds? How much did benefit increases cost the pension systems?
Released September 9, 2015
This Report offers a solution to Illinois' longstanding fiscal shortcomings. There are a number of common sense, data-driven initiatives that will modernize the tax code—and still keep Illinois relatively low tax. The Report details how changes to Illinois' tax policy, primarily to its income and sales taxes, and re-amortizing its pension debt can completely eliminate its structural deficit.
Released May 6, 2015
PowerPoint presented by Ralph Martire at the Senate Revenue Hearing.
Released November 20, 2006
An analysis of the five Illinois retirement systems finds that the state's worst-in-the-nation unfunded pension liability has grown by more than $7 billion in just the last two years.
Released May 4, 2007
This Report address the most common misconceptions the underfunding of Illinois' pension systems, and reviews the relative strengths and weaknesses of defined benefit versus defined contribution systems from the perspective of both the public sector and taxpayers.
Released July 24, 2007
A Fact Sheet on the source of Illinois' unfunded pension liabilities.
Released August 7, 2007
A two-page summary of the Commission on Government Forecasting and Accountability's 2007 report on the Illinois' state pension systems.