IIFS Blog Archive: July 2012

07.26.12

Enterprise Zones: Illinois and Other States

As discussed here previously the Illinois General Assembly recently passed a sweeping overhaul of its Enterprise Zone Act. If signed by the Governor, the new law will change how the State grants and renews economic development areas and will require additional reporting to help determine the...

07.19.12

State Revenues Higher Than Expected In FY2012

Total revenues collected by the State of Illinois in FY2012 beat expectations by $576 million, according to an update from the General Assembly’s financial oversight commission. However, the same report suggested that stalled economic growth may prevent continued gains in the current fiscal...

07.11.12

State’s FY2013 Budget Skimps on Group Health Insurance

The State of Illinois budget for fiscal year 2013 underfunds the expected cost of State group health insurance by at least $550 million, paving the way for a significant increase in unpaid bills unless more spending is authorized later this year.

07.05.12

States and Localities Consider Cash Balance Plans

As public pension liabilities around the nation continue to grow, public officials and pension fund boards are looking into alternatives to traditional defined benefit (DB) pension plans. Two kinds of “hybrid” retirement plans have achieved particular prominence in the past year: plans...