Government employee unions gathered in Springfield earlier this year for a day of action in support of changing “Tier 2,” the state of Illinois retirement benefit for workers hired on or after Jan. 1, ...

SPRINGFIELD, Ill. — Mayors across Illinois are demanding that state lawmakers address serious shortfalls in local police and fire pension funds. The effort comes after the Illinois Legislature dealt ...

On May 12 and 13, Moody’s Investors Service again downgraded Chicago credit ratings for the seventh time in two years. Its credit rating is now above only Detroit’s. These downgrades, which affect ...

SPRINGFIELD — Public employees hired since 2011 must continue to wait for pension reform after Illinois lawmakers declined to take up the issue during the spring session. Lawmakers and labor unions ...

Add Yahoo as a preferred source to see more of our stories on Google. Rep. Jay Hoffman visit SUAA (Howard Ash/SIUE Marketing and Communications) It’s a critical time to fix Illinois’ pension program ...

State Sen. Robert Martwick's push to alter Illinois' Tier Two pension system understandably can be applied to pension systems that are out of compliance with Social Security's "safe harbor" provision.

Illinois' underwater pension problem is such old news that one almost hesitates to bring it up anymore. Like climate change or gripes about the White Sox, the very mention of the subject stirs the ...

CHICAGO (AP) – Illinois, a state with a reputation for political wheeling and dealing, backroom handshakes and 11th-hour bargains, is dragging its feet on the one deal needed to solve its biggest ...