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All the scores were summed and sorted to show the places that are the best in Illinois for a couple to live on only a Social Security check. All data was collected and is up to date as of Jan. 3 ...
As recently as 2014, this city of about 30,000 in east-central Illinois was named the cheapest place to live in the whole county by the U.S. Bureau of Economic Analysis.
(The Center Square) – The push is on for Illinois legislators to advance some form of pension reform to address what proponents say are shortfalls in Tier II pensions. Illinois implemented Tier ...
Guaranteed minimum income (GMI), also called minimum income (or mincome for short), is a social-welfare system that guarantees all citizens or families an income sufficient to live on, provided that certain eligibility conditions are met, typically: citizenship and that the person in question does not already receive a minimum level of income to live on.
The Illinois Municipal Retirement Fund (or IMRF) is the second largest and best-funded public pension system in Illinois. Since 1941, has partnered with local units of government to provide retirement, disability and death benefits for public employees.
Changes from the “Tier I” pension law include raising the minimum eligibility to draw a retirement benefit to age 67 with 10 years of service, initiating a cap on the salaries used to calculate retirement benefits, and limiting cost-of-living annuity adjustments to the lesser of 3 percent or half of the annual increase in the Consumer Price ...
Behind only Connecticut, Fitch pegs Illinois’ unfunded pension liability and other post employment benefits at $206.5 billion, taking up 22.8% of the state’s personal income. Tool company to ...
Groups of labor unions took part in Friday’s Illinois House Personnel and Pensions Committee, pitching a measure to increase the wage cap, change the cost of living adjustments, and restore the ...