July 2026 – Prairie State Policy

How would a Public Infrastructure Trust work?

The 2008 parking meter lease remains one of Chicago’s most debated fiscal decisions — widely regarded as a raw deal that traded long‑term public revenue for short‑term budget relief. Facing severe financial strain at the time, the City of Chicago agreed to lease its parking meters for 75 years to Chicago Parking Meters LLC inContinue reading “How would a Public Infrastructure Trust work?”

The State Pension Fund with the lowest funded ratio: GARS

The General Assembly Retirement System (GARS) was established in 1947 to provide lawmakers and certain members of the executive branch with a mechanism to save for retirement. Like Illinois’ other four state‑run pension systems, GARS is structured as a defined benefit plan, offering guaranteed lifetime pensions based on salary and years of service. Because theContinue reading “The State Pension Fund with the lowest funded ratio: GARS”

U of I Flash Index continues to trend upward

The University of Illinois’ Flash Index, a measure of the overall performance of the Illinois economy, recently reported an increase for the second month in a row in June. The Flash index is “the weighted average of Illinois growth rates in corporate earnings, consumer spending, and personal income as estimated from receipts for corporate income,Continue reading “U of I Flash Index continues to trend upward”

The Illinois municipality with the worst bond rating

Riverdale, a small municipality of roughly 10,000 residents, is in trouble. In April of this year, Fitch Ratings downgraded Riverdale’s Issuer Default Rating (IDR) from B‑ to CCC‑, citing reasons such as low margin for servicing obligation, weakened financial profile, negative general fund reserves, very limited liquidity, and deferral of pension spending. With Fitch’s downgrade,Continue reading “The Illinois municipality with the worst bond rating”

Mid-year update on the State Pension System

Illinois pensions remain significantly underfunded, but the trajectory has improved over the last several years due to full statutory payments, supplemental contributions, and strong investment markets. Earlier this year in February, Gov. Pritzker announced a path to full funding by 2048, building on a 2024 multi-tiered pension plan and recent credit upgrades. The administration plansContinue reading “Mid-year update on the State Pension System”