retirement en Civic Federation Calls For Taxing Retirement Income <p><span style="line-height: 1.5;">&nbsp;&nbsp;</span>As more baby-boomers retire, Illinois is increasingly missing out on a revenue source. Of the 41 states with an income tax, Illinois is one of only three that exempt all pension income.</p><p></p><p><span style="line-height: 1.5;">A new report from the Chicago-based Civic Federation says Illinois needs to take a longer-term approach to budgeting; one that is rooted less in politics, and more in reality. Most notably. the group recommends Illinois extend its current income tax rate for a year before gradually rolling it back.</span></p> Tue, 04 Mar 2014 00:54:11 +0000 Amanda Vinicky 20115 at Civic Federation Calls For Taxing Retirement Income Should State Retirees Pay For Health Insurance? <p><span style="line-height: 1.5;">Retired state workers who collect pensions in Illinois started paying health insurance premiums this summer. That's because of a change in the law last year — previously health insurance was free for anyone who retired with</span><span style="line-height: 1.5;">&nbsp;at least 20 years of service.</span></p><p>A number of retirees sued over the change. The case was argued Wednesday before the Illinois Supreme Court.</p> Thu, 19 Sep 2013 11:30:00 +0000 Brian Mackey 9175 at Should State Retirees Pay For Health Insurance? Pension Returns Up; Problems Remain <p><span style="line-height: 1.5;">Illinois' largest public pension fund hit a major low in 2012, its rate of return was less than one percent.&nbsp; But an early analysis shows the last fiscal year was better than expected. The success isn’t expected to make much of a dent in Illinois’ nearly $100 billion dollar pension liability, however, which lawmakers thus far have failed to tackle. &nbsp;&nbsp;</span></p><p></p> Tue, 20 Aug 2013 22:03:17 +0000 Amanda Vinicky 7592 at Pension Returns Up; Problems Remain