Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.
This is part of a proposed state funding package for the U of I system (including Chicago and Springfield campuses), which is House Bill 6623 in the 100th General Assembly.
U of I is calling it the Investment, Performance, and Accountability Commitment (IPAC) plan.
http://www.uillinois.edu/president/IPAC
What is their plan for the biggest financial problem sucking state funding away from lower in state tuition…pensions.
Wait.
HB 6623 was in the 99th General Assembly.
What’s the new bill number in the 100th General Assembly?
It might be Senate Bill 222 (SB 222) in the 100th General Assembly.
Now UIUC is so concerned about in-state students?! There are fewer IL residents attending UIUC today than there were 20 years ago even though total enrollment is up 8,000 over that same time span. Maybe UIUC should’ve spent less time courting kids in China than the kids in their own backyard. Let’s face it…with the high costs of college in general, if you’re a high school student looking at prospective colleges, why not spend more and see a different part of the country for 4 years? Texas, Colorado, west coast, southeast, Boston. I think kids today want to leave Illinois… Read more »
This article is self serving and Killeen’s assertion about where college grads end up borders on fake news in my opinion. My experience has been that most grads of Midwest schools try to end up in Chicago if possible. Look at the demographics of the north and near west sides. I do not see many articles about a surge in the millennial population in Indy, Des Moines, etc. Detroit area does slightly better, Likely because Michigan’s pols are not pursuing economic suicide. If Killeen wants funds he should start by cutting his bloated bureaucracy and reducing the size of those… Read more »