Illinois isn't going to stop collecting on decades-old public benefit debt. A number of reports highlight the state's effort to make good on over-payments for food stamps that date back decades. Illinois' Department of Human Services says most of the debts are under 100-bucks. DHS says Illinois has always been able to collect the debt, there isn't a statute of limitations on over-payments.
Gov. Bruce Rauner unsuccessfully waged a last-minute battle to block the downstate and suburban teacher pension system from making a move that puts the cash-strapped state government "on the hook" for hundreds of millions of dollars more in the short term, according to the Chicago Tribune. At issue was whether the Illinois Teachers Retirement System board should lower expectations about how much the fund might earn in the stock market. For the past two years, the TRS has assumed that its investments will earn an average rate of return of 7.5 percent. However, this time actuaries argued the figure should be closer to 7 percent, given widespread belief that retirement funds won't continue to perform as well as they have in recent years. The board voted for 7 percent, which is estimated to cost the state an extra $400 to $500 million a year, an expense that will be due by next July. Rauner and his team made an effort to block the vote after his office learned the TRS board planned to vote. Had the move been successful, Rauner may have had the majority of the votes on the board. The board is comprised of 13 members - six trustees appointed by the governor, six chosen by pension system members and is chaired by state superintendent of the schools, who is appointed by the governor as well. However, Rauner made a mistake by attempting to fill one of those seats with a person from Chicago. State law requires that appointees reside in an area that is covered by the retirement system, but Chicago teachers have their own pension system that aren't covered by the TRS.Rauner's staff called the mistake a result of "miscommunication." A very costly miscommunication indeed. Information provided by The Chicago Tribune
The presence of a new corn disease in Illinois is being reported by the University of Illinois. The school reported on Friday that bacterial leaf streak has been found in a field in DeKalb County. The disease has now been identified in nine states. Researchers say not much is known about the disease currently.
ILLINOIS NEWS NETWORK Gov. Bruce Rauner has signed four bills intended to make it easier for the state to manage its natural resources and encourage youth to become more active in — and protective of — the outdoors. “Investing in young hunters and fishers helps implant a great love for the outdoors that will continue […]
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ILLINOIS NEWS NETWORK Gov. Bruce Rauner today signed a bill passed unanimously by the General Assembly earlier this year that would compel companies to reference a federal list of deaths to ensure that policy benefits are being paid out. State Treasurer Michael Frerichs was in Decatur on Thursday as part of a hearing tour to […]
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