The ‘Tier 2’ Pension Mess in Illinois – WP Original

  By: Mark Glennon* Updated 1/16/15 As if Illinois public pensions don’t have enough problems, it’s becoming evermore apparent that the Tier 2 reforms enacted in 2010 are a mess. Some background: In 2010 Illinois created a second, lower level of pension beneficiaries for all state and local pensions, except for several Chicago pensions. Employees hired after 2010 became Tier 2 pension participants with far lower benefits. Tier 1 employees who started before that kept the same, more generous benefits they had before. The state’s unfunded pension liability, officially about $106 billion and in truth more like $250 billion, was

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State Employees Complain of Working Conditions in Chicago office – NBC Chicago

Bedbugs, mice, temperature control issues, inadequate space and plumbing leaks are among the complaints alleged to plague the state-leased building on Chicago’s North Side. Comment: Earlier, former governor Jim Thompson said the Thompson building in the Loop had become “a dump.”  Actually, it always has been. via State Employees Complain of Working Conditions in Taxpayer-Funded Complex | NBC Chicago.

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Gov. Rauner issues executive order on hiring transparency

Most state employees will be published on the Illinois Transparency and Accountability Portal website as an easy means to find the state’s political hires. http://www.mystateline.com/story/d/story/gov-rauner-signs-hiring-transparency-act/57958/v_VXltz3oUuxYEPeujp_xg?utm_source=twitterfeed&utm_medium=twitter

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Jeff Mays returns to state government, still pushing business climate – State Journal-Register

Mays will be director of the Illinois Department of Employment Security. He worked for the U.S. Department of Housing and Urban Development and spent five years with the Illinois Chamber of Commerce in jobs of vice president of human resources and executive vice president. He just left a post he’s had since 1998 as president of The Illinois Business Roundtable.

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Developers Face Higher Costs to Opt Out of Affordable Housing – DNAinfo

A joint City Council committee on Wednesday passed a proposed ordinance expected to expand affordable housing and make it more costly, in most cases, for developers to avoid regulations that require them to provide such shelter in new projects. http://www.dnainfo.com/chicago/20150114/downtown/developers-face-higher-costs-opt-out-of-affordable-housing

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7 Chicago VC Firms That Raised New Cash in 2014 – Chicago Inno

Chicago mirrored a strong national trend, with Windy City VCs raising nearly $80M MORE last year than they did the previous three years combined. According to the NVCA, Chicago hit just over $620M in 2014, up from $192M in 2013, $131M in 2012, and $215M in 2011. http://chicagoinno.streetwise.co/2015/01/14/7-chicago-vc-firms-that-raised-new-cash-in-2014/

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