IIFS Blog Archive: April 2011

04.28.11

Illinois’ State Pensions Still Worst Funded

The Pew Center on the States recently released its report card on the health of state pension systems. Just as they were last year, the funding status of Illinois’ pension systems is the worst in the nation, with the State only funding 51% of its liabilities through FY2009. States in...

04.21.11

Cost of State Employee and Retiree Health Insurance Attracts More Attention

Governor Pat Quinn’s recommended FY2012 budget for the State of Illinois proposes that General Funds appropriations for the State Employees’ Group Insurance Program more than double to $1.4 billion from $695.8 million in FY2011.[1] This proposal, which reflects significant underfunding...

04.14.11

Tax Amnesty Program Update: Payments Up but New Revenue Low

Although the State of Illinois' FY2011 tax amnesty program brought in more than $700 million of delinquent tax payments owed by taxpayers and business, only $12 million of that revenue can be considered new funds.

04.07.11

Legislatively Required Transfers: Another Use of State General Operating Funds

General Funds represent the largest component of the State of Illinois budget and are mainly used to support the regular operating and administrative expenses of state agencies through annual appropriations by the General Assembly.[1] General Funds are also diverted to Other State Funds to make...