Illinois Department of Insurance
Recent News About Illinois Department of Insurance View More
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Illinois police, firefighters push back on state control of pensions
Gov. J.B. Pritzker signed a bill to consolidate local police and firefighter pensions from across downstate Illinois, but beneficiaries are suing because the state is notorious for poor pension management. -
ILLINOIS GOVERNOR'S OFFICE: Gov. Pritzker Announces Eight Appointments to Illinois Authorities, Commissions, Systems and Public Administrator Positions
Building on a strong team of diverse experts in their fields, Governor JB Pritzker announced the following appointments in his administration. -
Will COVID-19 lead to 'pension intercepts' and cuts to core city services across Illinois?
Financial damage may drive local pension funds closer to insolvency, forcing funds to utilize the state’s “pension intercept” law. That could force struggling Illinois cities to fund local pensions at the expense of vital public services. -
Cahokia police pension board votes to hire accounting firm to calculate former chief Watson’s numbers
CAHOKIA – St. Clair County sheriff Rick Watson let lawyer Leah Captain speak for him at a police pension board meeting on Oct. 16, when trustee Francella Jackson asked him how he came up with the numbers for his pension. -
It’s a jungle out there, in Cahokia
We had to wait a year to report the findings, but it was worth the wait. -
Third domino falls: Illinois Comptroller set to confiscate East St. Louis revenues to pay for city’s firefighter pensions
The East St. Louis’ firefighter pension fund has demanded that Illinois Comptroller Susana Mendoza intercept more than $2.2 million of East St. Louis city revenues so they could be diverted to the pension fund. -
Illinois' financial decay hits home
Illinois’ financial decay isn't just happening at the top, it has likely spread to your community, too. Households from Peoria to Harvey and from Alton to Rockford are seeing property values fall, city populations shrink, tax burdens jump and incomes stagnate. -
Class action vs Allstate over rates can continue; Company, not state, set rates, appeals court says
In a split decision, an Illinois appeals panel has stripped Allstate Insurance of its defenses against a class action, which alleged the company unfairly billed long-term auto policyholders more than it charged new ones, saying Illinois insurers can’t protect their rates from lawsuits, because their rates are not controlled by the Illinois Department of Insurance. -
Nearly 80 percent of Alton property tax levy consumed by pensions
The share of Alton’s annual property tax levy going to pension payments has more than doubled over the past decade. -
Things may not be okey-dokey in Cahokia
California's largest pension system is being sued over its failure to list whether its members have retired on a disability pension. -
Sheriff had pension benefits boosted by one-third in last month as Cahokia police chief
CAHOKIA – Pension benefits for former Cahokia police chief Rick Watson, now St. Clair County sheriff, were boosted by 33 percent in his last 35 days as chief, according to records of the trustees and the state insurance commission. -
East Alton eyes $35K in savings, but pension woes loom much larger
Severely underwater public safety pensions have already derailed the finances of other municipalities, such as Harvey and North Chicago. -
East St. Louis police and fire pension fund crises risk state intervention
East St. Louis’ police and fire pension funds experienced large funding shortfalls in 2016, putting the city at risk of revenue garnishment from the state comptroller’s office. -
The most misleading myths in Illinois politics
It’s no secret there’s a lot wrong with Illinois. Abraham Lincoln’s birthday, Feb. 12, is an annual reminder of how far the state has drifted away from the virtues of its most illustrious lawmaker. -
Belleville to consider $1.2 million property tax hike
Belleville residents had the opportunity to sound off at a public hearing regarding a proposed 11.98 percent increase in the city’s property tax levy. -
Illinois' pensions debt grew more in one year than half of states' entire budgets
In one year, Illinois' pensions added more debt than 25 U.S. states' entire budgets. -
State universities’ mounting financial woes burdening Illinois students, taxpayers
As college students across Illinois’ nine public universities make their way to their respective campuses in the days ahead, few may realize just how little of their tuition is going directly toward instructional spending for the 2016-17 academic year. -
Life insurers sue state Treasurer and contingency fee auditor over new rules imposed on unclaimed property
Life insurance companies are suing Illinois state Treasurer Michael Frerichs and private auditing company Verus Financial alleging that recent efforts to tap into policy proceeds under the Unclaimed Property Act are unconstitutional. -
Alton firefighter pension fund has almost twice the beneficiaries as active members
Property tax payers in the City of Alton contributed $1.96 million to the city's fire fighter pension fund in fiscal year 2014, while 47 active members currently receiving salaries contributed $291,197 in payroll deductions to the fund. And almost twice as many beneficiaries - 87 retirees, surviving spouses or dependents - drew $3,477,300 in benefits last year. -
The crazy cartoon world of Illinois public pensions
Strange things happen in cartoons – things that could never happen in real life, things that are physically impossible – but cartoon lovers know that and delight in the alternate “reality.” The absurd goings-on are an essential part of animated humor.