-- Connecting the dots between our economy, government and business --
“That's a huge, huge problem and basically the taxpayers are going to have to come up with $144 billion sometime over the next 20 to 30 years,” Reason Foundation Senior Policy Analyst Zachary Christenson said.
SIGN UP HERE FOR FREE WIREPOINTS DAILY NEWSLETTER
FOLLOW US
WIREPOINTS ORIGINAL STORIES
Audio and summary Why the Holdup Using Artificial Intelligence to Cut Illinois Government Costs? – Wirepoints
May 19, 2026
10 Comments
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
Note to readers from Mark Glennon re: Ukraine
May 6, 2026
4 Comments
Everybody needs a side hustle these days, and mine is Ukraine, where I am now.
Wirepoints’ Mark Glennon on AM560’s Morning Answer – Chicago’s struggling commercial real estate and more
April 22, 2026
5 Comments
Summary and audio linked here.
Well that’s because we’re the 2nd most generous state in the country when it comes to public employee compensation.
Add to that headline “with constitutional protection.”
That is a very important provision to say the least.
Why is it that investment returns/pension management fees/mismanagement and misappropriations of taxpayer and pensioners payments into the pensions is never addressed??? We only hear that taxpayers are on the hook and nothing else. One of the reasons is the near zero rates of return for years for cash on hand. Getting 2 or 3% would have helped. Now cash can get 4 or 5% which add up to billions in interest for all the funds collectively but got near zero previously due to the Fed money policy that lasted years. How much in compounding was lost? TRS has approx $60B… Read more »
It’s never addressed because it’s not the issue that you believe it is. The pension funds are already investing so not sure why you would think TRS has $60 Billion sitting in cash. Over the last 40 years TRS has earned over 9% and well above their stated goal of 7%. So even with management fees, investment results have surpassed expectations. The real problem is all the shorting of the pensions by the state. We are paying in less than the actuarial payments and currently that’s about 4-5 billion every year in underfunding. Now you throw in compounding and those… Read more »
I said hypothetically not actually. Maybe the problems lies with all the way a pension can be spiked the last few years of employment not based on the average salary of their careers. Why are taxpayers responsible in the first place? Did we get to vote for the Edgar ramp or have any say in pension holidays? Are we responsible if our neighbors default on their mortgages and car payments directly? May indirectly by getting higher loan rates. How would you like to get a bill for your neighbors mortgage bill if they default yet we get the bill for… Read more »
My point is that investment returns are not the issue. “Why are taxpayers responsible in the first place?” Because the state of Illinois offers its public service employees deferred compensation based on the number of years worked and the salary during the last so many years based on the member status. The pension funds merely represent the savings the state has to make those future deferred payments. The level of funding is the states responsibility and not the pension members. Also, the simple answer is that they are contractually obligated. Did we get to vote for the Edgar ramp or… Read more »
Agree with your points so with the first one why is the pension mainly based on the last 4 highest earnings out of the last 10 years? A person could work part time because of family needs or whatever and then work full time or over time for only the last 4 years and that’s what the pension is based on. The second points we elected those who represent us but most of those voters (recipients) of laws passed are in Cook County and a few surrounding counties. Political maps are drawn by both sides to ensure they or their… Read more »
“Agree with your points so with the first one why is the pension mainly based on the last 4 highest earnings out of the last 10 years?” Because that’s what the state offered as compensation. Now the state is offering 8 of last 10 years for new employees. If the voters want this changed they can elect representatives that will offer even lower payouts. Although, tier 2 won’t even meet safe harbor in the future so not sure what you want to change. Your other complaint about majority of voters deciding elections is pointless. Cook and collar counties make up… Read more »
Agreed. Now the voters just need to think about how we will pay it, more now or way more later. The voters need to hear more statements like this to get it through their skull that this is a taxpayer problem and will be paid by taxpayers.
PPFTard,
I was once an Illinois taxpayer.
I finally realized what a RACKET the corrupt Illinois Dems and their masters da public sector unions had established in Taxistan.
Living large and enjoying the $200K I saved in taxes by voting with my feet over 20 years ago!!
Da Judge
Probably more like $200-$300B.
Run, run far away Illinoisans!!