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Comptroller will make full December pension payment

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Illinois

* Comptroller Leslie Munger’s chief of staff just called to say his boss will be able to make the full state pension payment for December. The comptroller couldn’t make the November payment, but holiday sales tax receipts and quarterly income tax payments will help the office make the December payment.

The missed November payment will be made sometime in the spring, I’m told.

In the past, the comptroller made a single pension payment during the fiscal year, but Comptroller Topinka was able to make them every month after taxes were increased in 2011.

posted by Rich Miller
Tuesday, Dec 1, 15 @ 9:53 am

Comments

Good for her.

Comment by A guy Tuesday, Dec 1, 15 @ 9:57 am
I will believe the missed pension payments will be paid in full when it actually happens.

Comment by DuPage Tuesday, Dec 1, 15 @ 9:58 am
Alternate headline:

Comptroller fails to make November pension payment.

Comment by walker Tuesday, Dec 1, 15 @ 10:01 am
===Good for her.===

What does that even mean, “Good for her.”

Good for her…that monies exist right now to make the payment?

Comment by Oswego Willy Tuesday, Dec 1, 15 @ 10:04 am
“Breaking News: Comptroller doing her job”
Really they need a news release for this?

Comment by Spliff Tuesday, Dec 1, 15 @ 10:05 am
Not seeing the logic in paying December on time while continuing to skip November. Truth is, you are paying November in December. Pretty sure my bank would consider it as First due, first paid.

Comment by Thoughts Matter Tuesday, Dec 1, 15 @ 10:05 am
== The missed November payment will be made sometime in the spring, I’m told. ==

Or not.

Comment by sal-says Tuesday, Dec 1, 15 @ 10:10 am
“holiday sales tax receipts and quarterly income tax payments will help the office make the December payment.”
So it seems that greater economic activity and growth do actually help the finances of the State of Illinois. Maybe that will come up in the meeting later today.

Comment by In a Minute Tuesday, Dec 1, 15 @ 10:11 am
Remarkable lesson and news alert, if you have sufficient income you can pay your bills proven by Judy Baar.

Comment by illinifan Tuesday, Dec 1, 15 @ 10:15 am
===Comptroller fails to make November pension payment.===

Or: Rauner Administration Takes Pension Holiday in November.

lol

Comment by justacitizen Tuesday, Dec 1, 15 @ 10:36 am
This is the most intense juggling act seen outside a circus.

Kind of impressive, in a depressing way.

Comment by Formerly Known As... Tuesday, Dec 1, 15 @ 10:42 am
Love it Willy! Good for you.

Comment by Norseman Tuesday, Dec 1, 15 @ 10:54 am
Note to pension system: TAKE THE MONEY!

Comment by Niblets Tuesday, Dec 1, 15 @ 11:13 am
===The comptroller couldn’t make the November payment===

If the full Nov. pension payment could not be made then why was not a partial payment made with the remaining amount paid sometime in the spring? Any delay in making payments increases, in the end, the amount that tax payers must pay.

Comment by Hit or Miss Tuesday, Dec 1, 15 @ 12:12 pm
Out of curiosity. How much is the monthly pension payment?

Comment by In_The_Middle Tuesday, Dec 1, 15 @ 12:16 pm
It reminds me of the Chris Rock bit when a parent says, “I take care of my kids!”

To paraphrase him “You’re supposed to [Leslie Munger]…!”

Comment by Jocko Tuesday, Dec 1, 15 @ 12:22 pm
In_The_Middle-

Not sure if this is the dollar amount, but this is from the Comptroller’s website for Expenditures, November 2015 payment into Code 589 STATE EMPLOYEES’ RETIRE SYSTEM $181,963,933.41

Comment by Anon221 Tuesday, Dec 1, 15 @ 1:29 pm
Or, due to hostage-taking, the comptroller is making the November payment a month late and who knows when December will be paid.

Comment by wordslinger Tuesday, Dec 1, 15 @ 2:03 pm
Does anyone know how many pension payments were actually made this year?

Comment by Chicago 20 Tuesday, Dec 1, 15 @ 2:30 pm
Oh come on Rich, what do you call an entity that doesn’t pay its bills in a timely fashion?
BTW, it is five months in arrears to my electric utility provider.

Comment by Slippin' Jimmy Tuesday, Dec 1, 15 @ 2:32 pm
Thank you Anon221.

Comment by In_The_Middle Tuesday, Dec 1, 15 @ 4:27 pm
They missed the November pension payment of $560 million. So taxpayers must make up the payment plus interest by July 1, 2016.
Is this called a pension holiday?

Comment by Enviro Tuesday, Dec 1, 15 @ 4:52 pm
Possibly $181,963,933.41 would be the amount actually paid to retired state workers in November of this year.

Comment by Enviro Tuesday, Dec 1, 15 @ 5:00 pm