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Most state employees will receive a 3% raise starting in July. Specifically, those who are employed in a state-funded job position as of June 30 will receive a 3% raise starting July 1, when the ...
Pension spiking, sometimes referred to as "salary spiking", [1] is the process whereby public sector employees are granted large raises, bonuses, incentives or otherwise artificially inflate their compensation in the time immediately preceding retirement in order to receive larger pensions than they otherwise would be entitled to receive.
On December 27, 2012, Obama issued an executive order giving federal employees an across-the-board raise, estimated by Congressional Republicans as costing taxpayers "$11 billion over ten years." In response, in February, 2013, House Republicans passed H.R. 273 "Overturning the President’s Federal Pay Hike," to undo Obama's blanket federal ...
The House budget proposed 10.2% average raises for teachers, with 7.5% for state employees. Some employees in harder-to-fill positions would get higher raises — including school bus drivers, who ...
When will I get my raise? Workers should see larger paychecks starting in January 2024. Most workers’ pay raises will be processed “before the end of the calendar year,” wrote spokesperson ...
Later in that same year, the Illinois legislature mandated participation by all Illinois school districts (except those located in the city of Chicago) and all their employees except those covered by the Teachers' Retirement System of the State of Illinois. Coverage of schools increased the number of employers in IMRF from 156 to 652 and the ...
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 ...
Illinois is in trouble. For years, our state has been saddled with one of the highest unemployment rates in the nation – currently sitting at 5.3% or the second worst in the nation. While ...