With Illinois' state pension liability 17 percent more than it was last year, the vice president of a Chicago-based think tank recently said that 401(k)-style plans for public employees would go a long way toward easing the pension crisis.
“If America is two countries, Illinois is two states,” the Peoria Journal Star said recently in an editorial, censuring House Speaker Michael Madigan (D-Chicago) and attributing the state’s “abysmal” financial status to continued ineptitude and duplicity in the General Assembly.
In a move that averts massive job losses from Exelon Corp.’s Clinton and
Quad Cities nuclear plants, Gov. Bruce Rauner signed a bill into law today that effectively prevents the closure of these facilities.