Governor Rauner’s Amendatory Veto of SB1 Has a Number of Negative Consequences for Schools Across Illinois
Release: August 14, 2017
While the Illinois Senate voted on Sunday to override the Governor's amendatory veto (AV) of SB1, the Evidence-Based Model for education funding reform, a new CTBA analysis has identified at least six aspects of the AV that would each threaten the ability of Illinois school districts to reach adequate funding to serve their students.
These deficiencies underscore the importance of passing SB1.
CTBA finds that Governor Rauner's AV would frustrate SB1's core purpose of creating an adequate and equitable education funding formula in a number of ways, including by weakening:
How Much Are State Pension Payments Worth to Illinois School Districts?
Release: June 23, 2017
Every school district in Illinois except for the Chicago Public Schools has its teacher pension payments made by the state as a consolidated payment to the Teachers Retirement System. Because of this, it is difficult to determine how much money these pension payments are worth to individual districts. CTBA has created per-district estimates for both normal cost (the payment that covers benefits being earned by current employees) and legacy cost (the debt service payment to make up for previous years' underfunding).
Public Pensions: Frequently Asked Questions
Release: January 21, 2016
Ever want to know what the average pension is for a state employee? What’s a funding ratio, and what are the funding ratios for the different pension funds? How much did benefit increases cost the pension systems? How much did investment losses contribute to pension underfunding? What’s the biggest factor for underfunded public pensions in Illinois?
We’ve got answers to those questions and many more in this convenient document, "Public Pensions: Frequently Asked Questions."
It Is All About Revenue: A Common Sense Solution for Illinois’ Fiscal Solvency
Release: September 9, 2015
This Report offers a solution to Illinois' longstanding fiscal shortcomings. There are a number of common sense, data-driven initiatives that will modernize the tax code—and still keep Illinois relatively low tax. The Report details how changes to Illinois' tax policy, primarily to its income and sales taxes, and re-amortizing its pension debt can completely eliminate its structural deficit.
How Revenue and Spending Impact the Illinois General Fund
Release: May 6, 2015
PowerPoint presented by Ralph Martire at the Senate Revenue Hearing.