30 07, 2015

Illinois Court Strikes Down Chicago Pension Reforms, Deepening City’s Financial Crisis

2015-07-30T20:47:25-07:00July 30th, 2015|Categories: Pension Reform|Tags: , |

On July 24, 2015, Judge Rita M. Novak of the Circuit Court of Cook County, Illinois struck down recently enacted legislation designed to shore up two of the City of Chicago’s severely underfunded pension plans by, among other things, reducing benefits. Judge Novak viewed as controlling a decision by the Illinois Supreme Court from May of this year which held that similar legislation reducing benefits for members of state-funded pension plans violated the “pension protection clause” of the Illinois constitution.  [...]

6 03, 2014

Our next big crisis will be a retirement crisis

2014-03-10T23:59:22-07:00March 6th, 2014|Categories: Retirement|Tags: , , |

Remember how everyone sensible knew the housing market was in a bubble 10 years ago but nobody really focused on what that would mean? I wonder today if we are in a similar situation regarding retirement. Everybody sensible knows we are facing a looming retirement crisis. Tens of millions of baby boomers are starting to retire. They are going to live in old age far longer than previous generations. Tomorrow’s grandma is going to need medical care and nursing [...]

Go to Top