October 11, 2018 | Wirepoints

Comment: Bondholders don’t care who is elected as long as he raises taxes, which will stabilize things for a year or two but backfire in the longer run, by which time they figure they will have sold.

Illinois Teachers’ Retirement Fund to pay out more than $164M to 86 new beneficiaries, who saved a collective $5.7M – Prairie State Wire

October 11, 2018 No Comments

JPMorgan Expert: Illinois Bankruptcy Option Needed – True Debt, Pension, Health Costs Would Consume Half Of Revenue – Zero Hedge

October 11, 2018 No Comments

A reprint of our Wirepoints article.

Will Sears retirees see their pensions? – Crain’s

October 11, 2018 2 Comments

When Sears Canada, a separate company, suspended operations earlier this year, 18,000 retirees confronted a 30 percent cut in pension benefits for 20 months. They sued.

U.S. retirees, in contrast, can look to the PBGC, which is funded by insurance premiums paid by employers, plus investment income and assets of pension plans it acquires. The agency caps payouts—at just over $65,000 this year for anyone who retired at 65. About 1.5 million retirees depend on the agency. The PBGC, however, is financially troubled.

Day: October 11, 2018

Illinois puts its best credit foot forward with sales tax bond deal – The Bond Buyer

Cambria is last holdout as hotel strike crawls to an end after nearly five weeks – Chicago Tribune

In Quincy debate, shadows of controversies haunt Gov. Bruce Rauner and J.B. Pritzker – Chicago Tribune

At Debate, Rauner Calls Legionnaires’ Probe ‘Abuse of Power’ – A.P.

Rauner, Pritzker face off in final debate in Quincy, Ill. – Video – WREX

Students denounce CIA partnership with University of Illinois Chicago – World Socialist Web Site

Emanuel reformed Chicago government, curbing bribery and patronage – Crain’s

Bloomington creates mandatory business registry, hikes 100 occupational fees – IL Policy

Chicago CFO: Chicago pension bond proposal remains on the table – Bond Buyer

Kanye tells Trump he wants more manufacturing jobs in Chicago – INN

Rauner drags feet on union raises — 1IL

Illinois farmers cheer Trump’s E15 fuel expansion plan – INN

Waste watch: Evanston spent $700K on lobbying and promotions despite budget deficit – IL Policy

What Are the Effects of Janus v. AFSCME So Far? – In Defense of Liberty

401(k)s, raise taxes, change the constitution: Candidates vary on how to solve pension crisis – INN

Conservative activists criticize DePaul over denying event – Associated Press

10 Illinois universities have graduation rates below 15% – IL Watchdog

Emanuel puts $10 billion pension borrowing plan on hold – Crain’s

A south suburban superintendent is set to retire at age 56 with a $762K payout. – Chicago Tribune Angry? Get informed and vote.

Op-Ed: Who votes for Mike Madigan? – INN

Quiz of the Day – Truth in Accounting

Investors Just Want Illinois Governor Who Will Avoid Junk Rating – Bloomberg

Illinois Teachers’ Retirement Fund to pay out more than $164M to 86 new beneficiaries, who saved a collective $5.7M – Prairie State Wire

JPMorgan Expert: Illinois Bankruptcy Option Needed – True Debt, Pension, Health Costs Would Consume Half Of Revenue – Zero Hedge

Will Sears retirees see their pensions? – Crain’s

Cook County budget would hold line on taxes and fines – The Bond Buyer

Chicago red-light cameras capture more than $670M over last decade – IL Policy

No layoffs or tax hikes in Cook County Board President Toni Preckwinkle’s proposed county budget – Chicago Sun-TImes

Vallas unveils plan to solve affordable housing crisis, cap property tax hikes – Chicago Sun-Times

Rauner faces backlash for comments about illegal immigration, Chicago crime – WGN