The Illinois Supreme Court says the free health insurance enjoyed by state retirees is protected by the Illinois Constitution.
A judge has blocked the Illinois pension overhaul from taking effect next month.
Originally published on Thu March 27, 2014 5:03 am
A new report (PDF) says Illinois' pension overhaul will save less money than advertised. Some politicians are trying to make hay out of that. But it might not be such a big deal.
The pension vote came with promises of big savings — $160 billion. Then, after it was already law, a new analysis of the bill said, well, maybe we'll save $145 billion.
This latest report puts savings even lower, at $137 billion.
Illinois already has the worst credit rating among states. While that adds to the cost of borrowing money, Illinois winds up paying even more because investors view it as risky of default.
A decision Thursday by the Arizona Supreme Court is getting careful attention in Illinois.