Ky pension system fighting to make bankrupt nonprofit pay up – Lexington Herald Leader

The Kentucky Supreme Court has been asked to decide if Centerstone — the regional mental-health nonprofit in Louisville formerly known as Seven Counties Services — should get to use a bankruptcy reorganization to walk away from its estimated $130 million in liabilities to the Kentucky Retirement Systems, which manages the pension fund. Judges in other courts so far have approved it.

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J.B. Pritzker defends graduated income tax as a crucial step for Illinois

Pritzker declined at least a half a dozen times when asked to define who is “wealthy,” saying only that the vast majority of Illinoisans would get a tax cut.

He ruled out state bankruptcy as an option, and asked about amending the state Constitution to cut the tab replied, “I don’t think that’s a good idea.” Pritzker is interested in cutting the long-term pension tab by putting in more money now, but seemed to reject a proposed pension obligation bond issue as a solution.

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