Ives Seeks to Make Changes to Illinois Pension Systems in 2018

When she runs against Gov. Bruce Rauner in the 2018 Illinois gubernatorial election, State Representative Jeanne Ives of Wheaton will be looking to make some changes to the state’s pension systems.

According to NPR Illinois, Ives first aims to amend the Illinois constitution to remove protections for government pensions. Her next move seeks to enroll each new state employee in a 401(k)-style hybrid plan. Lastly, Ives hopes to renegotiate pensions in what she is calling an “honest conversation” with current workers and pensioners about the Illinois pension system.

“Other states have solved their pension problem. We can, too,” Ives told NPR Illinois.

However, her plan has been met with harsh criticism from the American Federation of State, County and Municipal Employees, who reject Ives’ ideas as “extreme and reckless.”

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In addition, the website reports that a Rauner spokesman blamed Illinois’ pension issues on Democratic House Speaker Michael Madigan.

The election will occur on March 20, 2018.

Tags: Governor Bruce Rauner, Illinois, Jeanne Ives, Pension

Sarah Emly

After struggling with her health in recent years, Sarah Emly, fund manager for JP Morgan, has died at 43.

During the UK equities team member’s time with JP Morgan, where she spent the majority of her 22-year career, Emly helped run the JPMorgan Income & Capital, JPMorgan Claverhouse, and JPMorgan Elect Managed Income investment trusts, as well as the JPM UK Equity Blue Chip and JPM UK Equity & Bond Income funds.

Emly initially joined the banking giant in 2001, when JP Morgan acquired Chase Manhattan Bank. Prior to that, she worked at Robert Fleming & Co. in 1995 after graduating from the University of Bath with degrees in international management and French. In 2000, Fleming was sold to Chase, where Emly stayed until the JP Morgan acquisition.

“She battled with ill health these past few years with a courage, humour, and determination that was truly inspirational,” the boards of the investment trusts said in a joint statement.

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Over a three-year period, Emly’s funds averaged 21% returns.

John Banker will continue to manage JPMorgan Income & Capital, while William Meadon will continue to manage Claverhouse. Both managers will oversee the managed income portion of JPMorgan Elect.

Tags: Equities, JPMorgan Chase & Co., Sarah Emly