Public pensions

A progressive income tax may not boost the state's near-junk rating unless revenue is used to address the pension problem.

Cook County, Illinois president says new taxes or fees are on table to close the shortfall.

The Oversight Board has reached an agreement with the Committee of Retirees that makes a flat 8.5% cut to pensions over $1,200 a month and does not change payments to the 61% of current retirees who receive monthly pensions of $1,200 or less.

Deputy Governor Dan Hynes says the recent legislative session put the state on an "upward trajectory," but underfunded pensions dog the state.

A judge denied Chicago's request for a restraining order to stop the state comptroller from intercepting state grant money on behalf of city pension funds.

The retirement system has said it may run out of money in 2020 or 2021.

An analysis says Philadelphia is on a path toward paying down its liabilities, though the funding burden will continue to crowd out other priorities.

Minority Republicans had gummed up progress by forcing the House clerk to read every line of every bill, before two members broke ranks.

Scott Waguespack will chair the committee that vets city bond deals and other financial transactions.

Illinois lawmakers gave first-year Gov. J.B. Pritzker a victory on a cornerstone of his fiscal plan for the troubled state.

The developer of the proposed $20 billion One Chicago project is seeking state subsidies as part of a P3 deal.

The mayor took the oath of office Monday and faces decisions soon about how to handle unfunded pension liabilities along with rising debt service and labor costs.

A bid to stabilize New Jersey’s soaring pension and healthcare costs faces an uphill battle against the state’s Democratic governor and organized labor.

The orchestra received a first-time A rating from S&P Global Ratings ahead of its bond sale next week.

The federation endorsed the plan only after Gov. J.B. Pritzker dropped plans for a partial pension funding holiday.

Incoming CFO Jennie Huang Bennett and budget director Susie Park arrive as the city warns that pension contributions may rise more than previously projected.

Illinois bonds are gaining ground in the secondary, supported by scant supply and recent fiscal developments viewed positively by investors and analysts.

Nebraska's largest school district has more than $770 million of unfunded pension liabilities after some pension fund investments turned sour.

New Jersey Senate President Steve Sweeney says the state needs to overhaul pension and health benefits to rebuild its ratings.

Gov. J.B. Pritzker's about-face on re-amortizing to reduce next year's pension contribution is one less negative rating factor, agency analysts said.