Illinois Pension System

Illinois To Receive Nearly $53M Share Of S&P settlementIllinois will receive a $52.5 million share of a multi-state settlement with Standard & Poor's over allegations that the credit ratings agency knowingly inflated ratings of risky mortgage investments that sparked the financial crisis of 2008, Attorney General Lisa Madigan announced Tuesday.
Illinois Getting $300M From Record Bank Of America SettlementIllinois is set to receive a $300 million share of a record $16.7 billion nationwide settlement with Bank of America, over allegations of financial misconduct that helped lead to the 2008 financial crisis.
Madigan: Illinois To Get $300M From Settlement With Bank Of AmericaThe deal announced Thursday by the U.S. Justice Department stems from the bank's role in the sale of mortgage-backed securities in the run-up to the financial crisis.
Illinois To Receive $84 Million From Citigroup SettlementIt is part of a national settlement with Citigroup because of the bank's misconduct in the sale of risky mortgage-backed securities
Pension Chaos A 'Negative' For Illinois Credit RatingIllinois edged closer to having its worst-in-the-nation credit rating lowered even further as a rating agency declared Thursday that failure to address massive pension problems is a "credit negative" for the state.
Daley's Pension Plan Renews Calls For ReformThere are renewed calls for changes in the way government pensions are funded in Illinois, following a report on the kind of pensions Mayor Richard M. Daley is in line for.