IIFS Blog Archive: December 2011

12.29.11

IIFS Blog Provided Timely Analysis of 2011 State of Illinois Fiscal Developments

In 2011 the IIFS blog provided weekly context, information and perspective on key fiscal issues in the State of Illinois. Posts in 2011 focused on analysis of FY2012 Illinois budget negotiations, analysis of the ongoing Illinois pension crisis and timely research on other fiscal issues impacting...

12.22.11

States Reduce Automatic Annual Pension Increases for Retirees

In the past two years, nine states have passed laws to reduce automatic annual increases in pension benefits for current retirees. The latest example is Rhode Island, which in November 2011 enacted legislation to suspend annual pension increases until the state’s retirement systems are more...

12.16.11

State Grants Tax Breaks to Corporations and Individuals

On December 16, 2011, the Governor signed half of a tax incentive package that was sent to him earlier in the week by the legislature. The package of tax incentives had failed to advance earlier in the veto session. After splitting a bill that passed the Senate but failed in the House into two...

12.08.11

Annual State Pension Cost Projected To Grow By $2.1 Billion Through FY2017

One of the greatest challenges facing the State of Illinois as it struggles to balance its annual operating budget is the continued growth in pension-related costs.

12.02.11

Veto Session Ends With Some Pension Reform and Increased Spending

As previously discussed here, many controversial issues confronted the Illinois General Assembly as it entered its fall veto session. Pension reform, gambling expansion, tax incentives for corporations, the Governor’s budget vetoes and a list of pending facilities closures all loomed large on...