Public Pensions

Taxing Retirement Income

Release: April 5, 2011

Illinois does not currently tax pensions or retirement funds such as 401(k) plans. This Fact Sheet provides an estimate how much revenue could be generated by taxing some retirement income.

Personal Income Tax, Pension Benefits, State Revenue, FY2008

Politics Over Policy: Swift 'Reform', Questionable Savings, Delayed Consequences

Release: January 25, 2011

Information on Public Act 96-1495, which created a second, reduced pension benefit tier for Illinois' public retirement systems

96th General Assembly, Second Benefit Tier, Local Pensions, Chicago Teachers Pension Fund, Pension Holiday, State Pensions

Testimony to the Pension Modernization Task Force, Funding Subcommittee

Release: August 26, 2009

CTBA's August 2009, testimony to the Pension Modernization Task Force, Funding Subcommittee.

FY2010, State Pensions, Deficit, Income Tax, Sales Tax, State Budget

HB 3798 of the 96th General Assembly

Release: July 15, 2009

Fact Shee on House Bill 1292 of the 96th General Assembly, which would have amended the General Assembly Retirement System (GARS) Article of the Illinois Pension Code to create a defined contribution plan for new members

96th General Assembly, State Pensions, Pension Benefits, Defined Contribution

Debunking Illinois Pension Myths!

Release: February 26, 2009

This Fact Sheet dispels some of the more common, and egregious, myths involving Illinois’ unfunded pension liability.

State Pensions, Defined Contribution

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