What’s the real reason government pensions are suffering? – Crain’s

According to the data Pappas shared at a City Club speech today, 130 of the county’s 549 taxing districts—schools, villages, cities and the like—have more retirees drawing benefits than current workers putting money in. And the ratio of workers to retirees is headed in the wrong direction.

Comment: Actually, that’s just one of many reasons.

Read More »

New worker fingerprint class actions now target Southwest, American airlines, Hilton, Wyndham hotels – Cook County Record

Some of the biggest names in travel and lodging have been added to the large and growing list of employers in Chicago and elsewhere in Illinois targeted by class action lawsuits accusing them of not securing their workers’ written authorization before scanning their fingerprints into their company databases to more accurately log and track their employees’ work hours.

Read More »

Illinois sets ‘blended’ tax rates for 2017 income – Courier

The Illinois Department of Revenue computed the “blended” 4.35 percent rate for individual returns due in April after the basic tax rate increased from 3.75 percent to 4.95 percent on July 1. The corporate rate increased from 5.25 percent to 7 percent.

Read More »

Downstate Republican senator: Illinois should legalize marijuana – INN

State Sen. Jason Barickman, R-Bloomington: “I think fiscal conservatives need to be in this debate,” Barickman said Tuesday. “It is inevitable that this is going to happen. Our opportunity is either to sit on the sidelines and watch how it happens, and not influence the outcome or put ourselves at the negotiating table.”

Read More »

Illinois prepaid college tuition program is $320 million short of what it needs, halts new investors – Quicktake

Crain’s reported today that College Now, Illinois’ prepaid tuition program for state higher education, has closed to new investors while it sorts its future. It’s not to be confused with Bright Start and Bright Directions, which are the state’s 529 college savings programs. According to Crain’s, “the Illinois Student Assistance Commission (ISAC), which administers College Illinois, is huddling with state lawmakers on how to fill a gap between the dollars in the investment fund backing the program and the family-purchased contracts” to attend Illinois colleges.” “The program is marketed as a worry-free way for parents or others to lock in

Read More »

Illinois Farmers Grim About Ag Economy – GLT

Illinois is now in year four of fairly low farm income and no turnaround is in sight, according to Farm Bureau Chief Economist Mike Doherty. Doherty said this is mainly due to low prices tied to increases in supply from competitors in Argentina and Brazil

Read More »

Illinois Procurement Chief Cancels Rauner Consulting Pact – A.P.

An Illinois purchasing monitor canceled a $12.5 million contract Tuesday that Gov. Bruce Rauner’s administration signed, saying it should have been offered to the highest and best bidder. Chief Procurement Officer Ellen Daley nullified the pact between the Illinois Department of Healthcare and Family Services and consultant McKinsey & Co.

Read More »