Newsmakers
Looks Like Politicians Will Extend Illinois’ Pension Buyout Program
The program has reduced the state pension’s unfunded liability by $325 million so far.
Tag: Illinois
Risk
S&P: Single-Employer Pensions Can Strain Illinois City Budgets
Poor discipline, an inability to reform, and demographics at public safety officer pensions could hurt municipalities’ credit.
Pensions
Illinois Governor Signs Chicago Firefighters’ Pension Bill into Law
Critics say it will more than double the city’s annual pension costs to $30 million.
Pensions
Illinois Lawmakers Pass Firefighter Pension Bill Upping Benefits
The move would add $18 million in extra inflation-adjustment benefits for its first year, expanding the liability for the poorly funded plan.
Asset Management Culture
Illinois TRS Executive Director Richard Ingram Resigns
Ingram steps down after being placed on administrative leave due to ‘performance issues.’
Newsmakers
$10 Billion Illinois Pension Bailout Request Ignites Controversy
GOP critics call the plea from Democratic state lawmakers, folded into a coronavirus relief package, ‘infuriating.’
Asset Allocation
Illinois State Treasurer Pushes for Venture Capital Boost
A new proposal in the state Senate aims to expand grant authorization powers for VC funding.
Asset Management Culture
Illinois SURS Seeks Fixed-Income Manager of Managers
Strategies include global investment grade, high yield, global bank loans, emerging market debt.
Asset Management Culture
Illinois Finalizes Move to Consolidate 650 Pensions
Gov. J.B. Pritzker signs legislation to merge hundreds of pensions to improve operational efficiencies and funding ratios
News
Illinois’ Unfunded Pension Liabilities $500 Million More Than Expected
The state retirement system’s unfunded liabilities rise to $137.3 billion.
News
Move could boost returns by $2.5 billion over five years.
Illinois Passes Police, Fire Pension Consolidation Bill
Move could boost returns by $2.5 billion over five years.
Market Moves
Plan to Merge Strapped Illinois Local Pension Plans Raises Doubts
The state, facing a big shortfall in its own retirement programs, tries to eke out savings from municipal plans.
Newsmakers
Illinois Pension Buyout Program Falls over $400 Million Short of Goal
Buyout plans were expected to save $423 million, but only saved $13.1 million.
Corporate Moves
Illinois Teachers’ Names New Leader for Emerging Manager Program
‘Invaluable’ Jose Gonzalez succeeds Kirk Sims, who left for the Texas Teachers’ Retirement System.
Asset Allocation
Illinois SURS Gears Up for Unique Crisis-Prevention Allocation
Report reviews primary risks and potential gains with lofty 20% allotment.