Rhode Island has right idea on pensions
Apr 11, 2012
Taxpayers will continue insisting on a realistic pension system that does not guarantee an endless cycle of crisis and tax hikes. We can see how a “blue” state like Rhode Island produced a compromise solution that achieved real reform.
Letter to Leader Cross re TRS
Apr 9, 2012
It is imperative that TRS officials are planning necessary actions to ensure current funds are not being depleted that will result in severe impairment of benefits to future retirees.
Unions will regret not fixing pensions
May 28, 2011
With past contributions and assets spent, and in the absence of a state guaranty, taxpayer support and debt market availability, what is in store for current state workers and teachers in the coming years? Massive reductions in actual benefits.
Pension Reform Begins
Based on our state’s poor track record of managing its pension system, a healthy skepticism of the current pension reform discussion is warranted.
Equality in Retirement Security
May 16, 2011
The great recession has punished Illinois citizens. Unrelenting unemployment, stagnant wages, declining home values and sagging investment portfolios have ravaged net worth. For those Illinois citizens at or near retirement age, this onslaught may bring fear that they will outlive their savings.
Illinois Understates Its Pension Liability by $130 Billion
May 6, 2011
The roughly 3.5% to 4% “risk-free” discount rate represents a more accurate basis for liability valuation than the pensions system’s average 8.25% discount rate because pension benefits are owed to the state workers and teachers regardless of investment performance of pension assets.
Illinois Pension Crisis & Higher Taxes
May 2, 2011
Marc discusses the abyss which is the state of our Illinois financial crisis, the politicians that has allowed the IEA to ransack Illinois taxpayers and what the future holds for Illinois.
Marc Levine on WBBM Noon Business Hour
Nov 10, 2011
Illinois Policy Institute Senior Fellow Marc Levine discusses Italy, the Euro, a potential banking crisis, and his preference between Buffetts (Jimmy vs. Warren).
Marc Levine Interviewed on WBBM Noon Business Hour
Jun 8, 2011
Illinois Policy Institute Senior Fellow Marc Levine appeared on WBBM-AM 780′s Noon Business Hour to discuss the prospects for nationwide economic recovery as well as problematic flaws in federal financial regulations.
The Death of Underwriting
May 26, 2011
Over a period of many years, assorted regulators developed rules in which nearly every institutional investment firm would be judged based on credit ratings provided by an objective third party: the statistical rating agencies. Now an objective measure of portfolio credit quality sounds like a sensible rule. Who could disagree?