Illinois Schools Implement Quality Recommendations

At the end of the 2006-2007 school year, educators, administrators and legislators gathered to discuss policies and recommend strategies for the Illinois Schools. The focus of the forum was to discuss educational reforms that have shown the greatest results, and to create specific recommendations for the Illinois Schools.

Policies That Could Work for Illinois Schools

The forum for Illinois Public Schools was partially sponsored by privately funded groups like the Bill & Melinda Gates Foundation, the Chicago-based Joyce Foundation, and the Chicago Community Trust. The areas identified as holding good potential for the Illinois Schools were: improving educator quality, performance rewards, data-driven improvements, and further support and creation of public charter schools.

According to Ellen Alberding, president of the Joyce Foundation, “More money alone won’t create successful schools. We need to link any new funding with high-impact reforms that work, particularly when it comes to teacher quality, which research shows has the most impact on student achievement.” Support for this position led to the following recommendations for teacher quality in the Illinois Schools. First of all, the group would like to implement a two-year mentoring program for new teachers in the Illinois Schools. Second, they recommend a pilot compensation program to reward excellence in teaching. Support for both practices comes from data showing that 40% of teachers in Illinois Schools leave in the first 5 years, and that in-school support greatly increases the likelihood that they will stay.

Other recommendations were that Illinois Schools create a system to collect data on student performance, and that teachers use data to improve instruction. There is a strong correlation between high performance and data-driven schools. To become a data-driven system, the Illinois Schools would need to look beyond test scores to things like attendance, grades, extra-curricular activities, and discipline rates.

More Charters for Illinois Schools

Finally, the forum recommended increasing the number of, and support for, charters in the Illinois Schools. Many of the Illinois Schools’ charter programs have good track records, and even waiting lists for attendance. However, charter schools are not universally embraced, as their independent accounting has resulted in some issues. There are also some concerns over admission guidelines among second language learners and delayed learners. But the Illinois Schools have had many successes with this system.

Overall, the recommendations the forum made for Illinois Schools are based on results tested over time, and from other districts and states in the country. The big decisions at this point will be where to use and how to spread out the funding from private and state organizations. Some decisions have already been made. For instance, the Gates Foundation is funding 11 new small schools in Chicago as part of that city’s High School Transformation Program. So Illinois Schools have some good prospects, and now some solid recommendations. Parents, teachers and administrators of the Illinois Schools are just waiting to see the results of implementing those actions.

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Illinois Unclaimed Money Approaches 1.4 Billion Dollars

In May 2007, Illinois State Treasurer State Treasurer Alexi Giannoulias announced that the state’s “Cash Dash” program is holding nearly $1.4 Billion in Illinois unclaimed money. The only thing standing between the cash and its rightful owners is the knowledge that it’s out there and the ability to track it down.

Sadly in addition to Illinois, state treasury departments across the country continue to take in more unclaimed property each year than they return to the citizens. Because everyone believes in the old “if it’s too good to be true” saying most people refuse to believe that there are really tens of billions of dollars waiting to be claimed nationwide. Even for those few who have realized the truth about unclaimed assets, the best way to locate these monies eludes them more often than not.

The Prairie is State is one of those rare states that holds over a billion dollars on its own which means if you’re a resident of IL then you have even greater odds of finding a claim in your name, especially when you consider that the state has less than 13 million people and there are over 10 million names on the state’s unclaimed funds list.

Although there are many more, Illinois lists the following as the most common types of missing money: abandoned savings and checking accounts, unpaid wages or commissions, stock, bonds, mutual funds, un-cashed dividends, customer deposits or overpayments, credit balances, refunds, money orders, travelers checks, paid-up life insurance policies, safe deposit box. Anyone who has had or knows someone who may have had one of these accounts at one time or another is encouraged to search regularly.

The IL State Treasury has returned more than $432 million since it took over the unclaimed money program in 1999, $84 million of which was returned in 2006 alone, but with $1.4 billion waiting to be claimed and more coming in all the time, the heap of cash will continue to grow.

Because money is constantly added to the fund, it is important to check regularly, not just once. Money owed to you might be added tomorrow, or next week, or next month, or depending on the type of asset in 5 years if that’s the proper dormancy period. Each type of property has its own dormancy period in each state, after which state laws require the holder to turn it over to the state who will then hold it until the rightful owner steps forward to claim it.

Additionally, residents of Illinois may be owed unclaimed money in other states even if they’ve never lived in or even been to them. Things like insurance overpayments when an employer uses an out of state insurance company can result in found money located in other states. Issues often also arise when a corporations headquarters are in another state.

The bottom line is that the state of Illinois is currently home to a massive amount of money that belongs to its residents who simply need to learn the proper ways to search, where to search, and how often to search. Learning these search methods from locators with years of experience in this field can greatly enhance your abilities to find your money.

State of Illinois Name Change

Changing your name is a simple legal procedure that any one can do themselves. It’s even easier than filling out all the forms you have to go through every time you visit the doctor. If you can fill those forms in yourself, then you can prepare your own name change forms.

The first step is to file a ‘Petition for Name Change’. You fill in the legal form, and take it down to your county’s clerk office, usually located inside your local county’s courthouse to file the form. There may be a small filing fee, but by preparing the form yourself you’ve already saved hundreds of dollars in legal fees. To find out how much the filing fee is you must contact your county’s clerk office you will be filing your Illinois name change forms at.

Here are a few county clerk office’s I’ve taken the liberty of locating for you, but there are many more. At least one in each county. So look for the clerk office in your county.

Du Page County Clerk – (630) 407-6000‎
421 North County Farm Road, Wheaton, IL‎

Cook County Clerks Office‎ – (708) 974-6150‎
10220 South 76th Avenue, Bridgeview, IL‎

Will County Clerk – (815) 740-4615
302 North Chicago Street, Joliet, IL 60432-4078

Lake County Clerk – (847) 377-2400‎
18 North County Street, Waukegan, IL‎

Once you’ve filed the petition for a name change you will be given a date to appear before a judge. You will need to appear before the judge just one time, for a brief moment. The judge may ask you a few questions just to make sure your eligible to change your name, but mainly you just appear to hear whether your name change has been granted or not.

As long as you haven’t been convicted of a felony in Illinois in the past 10 years, you’ve lived in Illinois for at least 6 months, and your not changing your name for fraudulent reasons such as to avoid warrant, imitate a celebrity, etc. then you should be eligible for a name change.

After you’ve appeared in court, and the judge has granted your name change you will receive a certification of your name change called a ‘Order for Change of Name’. You will then use that to change your name on your social security card, driver’s license, birth certificate, bank account, etc.

Once you have your ‘Order for Change of Name’ you then take that with you to your nearest Social Security office, along with your old identification to get a new copy of your Social Security card with your new name.

To update your Birth Certificate, you will need to get a certified copy of your ‘Order for Change of Name’, at your local county’s clerk office because you will need to mail that to the Illinois Department of Public Health. You mail that along with an official copy of your old birth certificate to their office, along with a $15 money order to cover the fee. Their address, and phone number (as of 7/27/2010) is:

Illinois Department of Public Health – (217) 782-6554
605 West Jefferson, Springfield, IL 62702-5097

Once you have your new Social Security card, and Birth Certificate, it’s time to update your driver’s license. You should now have all the documentation you need, but you can call them to verify what you need just to avoid bringing unnecessary documents. At this point though you will have no trouble changing your name on your bank account, utility bills, and any other accounts you have.

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Online Cash Advance Illinois – Some Quick Tips

People are made to believe by lenders and their agents that online cash advance in Illinois is a worthwhile service, as online processing of these loans makes the approval and disbursal very fast.

However, such claims are not always true. This is only one part of story. The other and rather sad part is that these are very expensive and over dependence on this type of borrowing could land you in a bigger financial trouble. So long as you have any other source of getting funds or if you can manage somehow, it would be better if you stay clear of these loans. However, if you think that the cost and inconvenience of not taking the loan is greater than the cost of cash advance, you can consider taking fast cash. Even then, you must borrow only the amount that you are sure that you can payback on time. If you fail to pay the amount on the due date, you will have to pay a bigger fee.

In times of emergencies, when time is of essence, you require a loan provider who will lend you money with minimum formalities. You have neither the time nor patience to organize loads of documents and answer several questions to get cash. Lenders who offer this online for people staying in Illinois makes the whole procedure of application, approval, and disbursal of money quick and convenient. As mentioned, all this convenience has a cost to it and you are the best judge to weigh the pros and cons before you fill the online application form.

Online Procedure

The online procedure for taking these does not require you to sit for days, waiting for the approval and meanwhile faxing loads of documents as proofs, verification etc. Even all verification of the data provided by you is done through online resources, your data is not shared with anyone and the whole transaction is very straightforward and discreet. They can be secured from any location. If you are a US citizen, at least 18 years old, and if you gave a stable job, which pays you, at least $1000 per month, then you can apply for the payday loans in Illinois. You also must have a bank account in your name, active for a minimum of 3 months.

However, all this comes at a cost and the lenders charge heavy fee to offset the risk taken for such fast lending.

Some Points To Watch Out For:

Though the process of taking fast cash loan is simple, while choosing your lender, you must look out for some aspects:
If the lender is charging an early repayment fee, don’t go for it.

Some lending companies charge you membership fees, in addition to the fee you pay for the loans, avoid them.

Too much information is sometimes asked for regarding your financial status and standing, if you feel it’s unnecessary, don’t tell. Instead, look out for another company.

Always go through the fine print of the terms and conditions before agreeing.

In addition, show caution by ensuring you have enough balance in your account in the payback day, so that the check is not bounced and you do not face negative balance. Loan extension is an option, but a much costly one, plan well to avoid it. This seems to be an attractive proposition, but avail it only for urgent purposes, when you have no other way out. This facility is available for all and can be availed in dire circumstances as well as for building a good credit history. However, as previously mentioned, you should take these only when it is to take care of an emergency and you have no other option for getting fast cash.

Illinois Health Insurance Plans and Pre-Existing Conditions

How does an Illinois resident with a pre-existing health condition find a quality Illinois health insurance plan? Why does it seem like it is so difficult to find a pre-existing condition Illinois health insurance plan?

Pre-existing conditions are defined as illnesses in which the person has gone to a physician, clinic, or medical facility and has received medical care in the past. Insurance companies are using these questionnaires as well as an exclusion period in order to defend themselves from people with pre-existing conditions that are seeking medical insurance.

In the state of Illinois people that are applying for an individual health insurance plan can be turned down at the insurance company’s discretion due to pre-existing conditions unless that person is eligible for an Illinois HIPAA health insurance plan.

In the state of Illinois they follow HIPAA laws very strict. The Health Insurance Portability and Accountability Act created in 1996 and effective in 1997 provides protection for people that have medical pre-existing illnesses. The law protects people by limiting their exclusion period when purchasing health insurance, lowering the chances for a member with a pre-existing condition to lose coverage, providing protections when they change jobs and guaranteeing that your health insurance policy gets renewed at the end of your coverage year.

The law however, has not eliminated the ability of individual carriers of denying health insurance to pre-existing condition people or exclude medical conditions. The only guarantee issue provisions lie in State sponsored plans and insurance company funded plans. What HIPAA does provide is for guaranteed acceptance health insurance coverage for people that meet 6 HIPAA requirements. When someone meets these 6 requirements they are considered “HIPAA eligible” and can qualify for a guaranteed issue HIPAA health insurance plan. The 6 requirements for HIPAA eligibility can often be the only avenue of health insurance coverage available to some high risk individuals with major pre-existing health conditions.

Some of the most important insurance companies in the state of Illinois handle pre-existing conditions a little bit differently, because of this it is important to do some research and actually shop around for a policy before deciding to apply. Individual plans have more exclusion that group plans and that is why they are quite a bit less expensive, because they are more restrictive.

Aetna Health Insurance who is one of the “big dogs” in the health insurance business across the United States is a primary example of exclusion period. They offer a 365 day period starting from the day of enrollment, in which a person with a pre-existing condition is not covered. It is important to note however, that if the person that has a pre-existing condition has had prior creditable coverage within 63 days immediately before the signature of the application; then the exclusion period will be waived.

Another example of this can be seen with Blue Cross and Blue Shield of Illinois, who is one of the 39 independent, community-based insurance companies that make up the national Blue Cross Blue Shield network. Since they are independent that means they might not have the same provisions as Blue Cross Blue Shield companies in other states. In Illinois, BCBS requires a member with a pre-existing condition to wait a 365 day exclusion period from the day that they sign the policy before receiving coverage for their illness.

Compared to individual coverage, group plans are a little better. They cannot turn you down due to a pre-existing condition, which makes group plans more expensive. Under HIPAA law an employer can only deny pre-existing condition coverage if the person is diagnosed, receives treatment or has care and treatment 6 months before the enrollment date. A good thing to note is that pregnancy cannot be accounted as a pre-existing condition by an employer insurer.

The total time a person can be excluded from a group health plan if they have a pre-existing condition is 12 months after enrollment (18 months if they enroll late), for this reason it is important for a person to sign up for health insurance as soon as they are offered it (if not you can be subject to 18 months instead of 12). Fortunately for some, the time can be less in case that they were covered by an insurance company for the 63 days before enrollment. Also, an insurer cannot deny coverage to a small employer (2-50) under HIPAA law.

Finding Illinois health insurance coverage when one has a pre-existing condition can be very tough. Not to mention that pre-existing conditions cover everything from cancer, HIV, Hepatitis C and even high cholesterol. It is key however, for a person that has a pre-existing condition to know all the exclusions and their rights that are provided under the HIPAA law. This is important because once you know your rights, you will be able to be more knowledgeable about the subject and avoid long exclusion periods.

Health Savings Account HSA – Tied to a High Deductible Health Insurance Policy

Affordable Health Insurance in Illinois with a higher deductible can be attained by buying only catastrophic coverage. Or there is another way; by partnering with a Company with your own HSA or Health Savings Account.

What is a Health Savings Account?

It is a non-taxable savings account which is interest bearing, depending on where you set it up, and serves as a reserve in case you have a qualified medical expense. It could be something major like a heart attack or something as minor as a visit to your dentist. Since you have your own money at stake, the Health Insurance Company realizes that their risks are highly minimized. Since you are taking more risk for upfront coverage they are willing to lower the price of your monthly premium. Because you are responsible for all claims up until you reach your deductible. The higher your deductible is on your High Deductible Health Plan the lower your premium will be.

Remember Health Insurance Companies like to collect premiums, not payout huge dollars in claims, after all these are corporations which must answer to their shareholders and thus, prove they are on pace with their quarterly profits so they can match or “beat the street” on their earnings and maintain their stock price.

Now then, HSAs or Health Savings Accounts are not the right strategy for everyone, and we really need to take a look at what you have now, your individual and specific health care needs, and your budget to see if it even makes sense. For some folks, it does make sense – it makes a lot of sense in fact.

This is one of the ways you can create an affordable health insurance plan by keeping your premium payments ultra-low. Perhaps, your tax person has discussed this with you, or mentioned it previously. In any case if you are looking for such a policy and are ready to set up an HSA or Health Insurance Account, you’ve come to the right place.

Give me a call and I can get you a quote, and see if this makes sense for you?

Think about your reward – No More Stress – No More Worries – and Mission Accomplished!

Why a Health Savings Account Is Right

The health insurance industry is very unique. When you compare it to other types of insurance, you will find that most types of insurances are based on the catastrophe.

Your auto insurance does not cover new tires or oil changes. Your home owners insurance does not pay for a new paint job or if your oven breaks down.

Somehow, health insurance pays for doctor visits (new tires) and prescription drugs (oil changes). These two benefits are what add most of the cost to a health care plan.

With health insurance you pay for these benefits whether you use them or not.

This is why health savings accounts (HSA) make a lot of sense. The HSA, is used in conjunction with, a High Deductible Health Plan (HDHP). The deductible, as you might guess, is higher and only covers the doctor visits and prescriptions after you meet that deductible. It protects you from the catastrophic loss and kind of puts you in control of your health care dollars. They often times cost half as much as a co-pay plan would cost.

H.S.A plans were we created in Medicare legislation and signed in to law by President, George W. Bush, on December 8, 2003. They were originally called Medical Savings Accounts (MSA). They were created by Senator Bill Archer, R-Texas.

Mr. Archer’s project was to reduce the cost of health insurance for the self-employed without sacrificing coverage for a major illness. Mr. Archer’s brilliant idea was to eliminate the part of the traditional health plan that cost the most money. These expensive benefits include doctor visit “co-pays” and outpatient prescription drug “co-pays”. Archer proposed to congress that if you eliminated these features from the health plan it was conceivable to cut your health premiums considerably. He was absolutely right!

Here is an Illinois example. A family of four with Blue Cross Blue Shield of Illinois parents in the Chicago Area 40 years old with two children $2500 deductible individual deductible $7500 family deductible is $683 per month. That plan has co-pays, Rx coverage and an annual out of pocket maximum of $9000 ( 80% paid by insurance 20% paid by insured until they have spent $9000). That is significant because it is a high out of pocket maximum plus your premiums. And how often do you see a doctor in a given year?

Now let’s look at the same situation, same carrier with an H.S.A plan. This we will choose a $5200 family deductible. This plan is 100% coverage after the deductible, so my out of pocket maximum is lower as well. It is better coverage for the big, more catastrophic things that can happen. This plans premium $473.

It costs this family $200 more per month for the privilege of having a co-pay and prescription coverage. Now, if you are on some significant medications, or go to the doctor twice per month, this type of plan might not be right, but I do not believe that most Americans do go to the doctor that frequently.

Then, if you choose too you can, the $200 per month savings and set up the “saving account” portion of the plan, in which, you can fund it like an IRA, in which money you put it tax deferred and goes out tax free if you use it for medical expenses. In two years, you would have $4800 saved in your account. That is almost enough to cover your entire deductible.

In 2012, the maximum you can put into the savings account is $3100 for an individual and $6250 for a family. If you are over age 55 you can put an additional $1000 per year into the account as a “catch up” contribution.

You can pull this money from your account, for qualified medical expenses if you should incur them through the year. Unlike the FLEX SPENDING ACCOUNT (FSA) that many have had through their employment, the money you put into the account can carry over from year to year. So if you were to put $5000 in your account this year and you do not use any of it, you have $5000 to start next year. Remember, most or all of this money is money that you would have given to the insurance company for the privilege of having a “co-pay”.

Illinois Health Insurance Plans

The state of Illinois takes very good care of the insurance needs of its citizens. There are public as well as private insurance policies, with different options to suits all kinds of people and their requirements.

Illinois health insurance policies can be classified as PPOs, HMOs, traditional individual and family coverage, children’s health insurance plans, and insurance for people over 65 years of age. Some other specific plans are short-term health insurance, dental plans, Illinois HSA Qualified High Deductible Insurance Quotes Individual and Family, small group health insurance plans, senior health insurance, employer-based group health insurance plans, international travel health insurance plans, student health insurance plans, disability insurance, kid’s health insurance, and the CHIP (comprehensive health insurance program).

Illinois has special insurance polices such as Illinois Medicaid, KidCare, and Illinois Department of Aging – Pharmaceutical Assistance Program, for people who have been denied insurance by regular insurance companies. The Illinois CHIP (Comprehensive Health Insurance Plan) is a state program for people who qualify for coverage under sections 7 or 15 of the CHIP Act. There are three plans under this: Plan 2, Plan 3 and Plan 5. Each plan has deductibles of $500, $1,000, $1,500, $2,500, and $5,000. Plan 2 is available to eligible persons who are enrolled in both Parts A and B of Medicare due to disability or end-stage renal disease, since they are ineligible for all other CHIP benefit plans. Plan 3 is a Preferred Provider Organization (PPO) plan available only to eligible persons who qualify for traditional CHIP under Section 7 and are not eligible for Medicare. Plan 5 is also a PPO plan available only to federally eligible individuals who qualify for HIPAA-CHIP under Section 15.

Some companies are also offering the guaranteed acceptance medical plans for Illinois residents. The monthly premiums vary according to the age of the enrollee and the number of people being insured. The premiums range from $69.35 for a single 30-year old person to $506.23 for a family in which the enrollee is in the age group of 60-64 years. Other kinds of plans are short-term plans, group plans for employers, tax advantaged health savings accounts and Qualified High-Deductible Health Plans (HDHPs). Some of the most popular Illinois health insurance companies are: UniCare, Anthem, Blue Cross /Blue Shield of Illinois, Humana One, Fortis Short-Term Medical, Celtic, American Medical Security and Fortis Student Select.

While selecting a health insurance policy, understand various terms like the premium to be paid, the limits of liability, the coverage provided, the policy limits, benefits, deductibles, and terms of insurance. Other aspects include co-insurance, co-payments, out-of-pocket expenses, exclusions, lifetime maximum, waiting period, coordination of benefits, grace period and so on. The choice of doctors, specialist care, pre-existing conditions, emergency and hospital care, regular physicals and health screenings, prescription drug coverage, obstetrician/gynecologist coverage, costs and additional services should also be considered. Also get to know the policy’s coverage for planned hospitalizations as well as emergency care.

Other aspects to be taken into account while choosing a health insurance plan are how the plan handles physical examinations and health screenings, vision care, and dental services; what is the care and counseling for mental health; what are the services for drug and alcohol abuse; is there ongoing care for chronic and long-term diseases; does it cover physical therapy and rehabilitative care; does it cover nursing home, home health and hospice care; does it cover alternative medical care like acupuncture; does it cover experimental treatments and therapies, and so on.

Illinois Teacher Retirement System

WARNING:

This article is probably not going to win me any popularity contests. If you don’t like listening to some possible hard facts, I would suggest you quit reading through this now. But, if you are practical individual who would rather be prepared for the worst of while hoping for the best rather than simply anticipating the best; this is the most important article you’ll go through all year.

What’s in this article?

– A very fast background on pensions

– Where the future of your Illinois pension may be heading

– Why there is no way to lose by beginning to save in an outside retirement account in addition to your pension

Very swiftly, here is how pensions work:

Each year workers contribute to the pension it becomes a little bigger and whoever is administrating the pension (in your case, the state of Illinois) also needs to put funds in yearly for the pension to remain healthy. With these combined pension contributions, the accounts should be big enough that the revenue generated on interest is sufficient to take care of the payouts to current retired workers without having to dip into the pension’s principal.

So that is simple. Workers pay, the state also gives, and the retired workers get paid. Pensions are the standard in the public arena. They also used to be the standard in the private arena until the last generations, when companies started shifting to 401(k)s.

Why the shift?

I just read a book called Retirement Heist by Ellen Schultz, an investigative journalist for the Wall Street Journal. If you do not have enough reasons to be mad at private enterprise as well as our state and federal governments, go through this book. Much of the book was on the downfall of pensions in the corporate world but that tale has a very direct link to your public pension. It is important for you to know this history.

Many of our nation’s big companies had very well funded pensions. Overfunded actually, often having around $1.50 for every $1.00 they were expected to owe to their current and future retirees. But through a line of hidden methods and exploitation of tax loopholes, corporate management (aided by independent financial consulting firms) was able to reap profits and gains from their pension surpluses.

After plundering their employees’ retirement account for many years, the pensions became underfunded. The corporate executives assigned the blame to their aging staff, the retiree “legacy costs”, and “spiraling” individual medical costs for employees and retirees. They clearly did not discuss or display the measures they took that transferred huge dollar amounts from their employees/retirees to revenue for their shareholders (and therefore additional bonuses and contract extensions for the executives).

They were willing to give up the benefits and retirements of their staff for fast and fleeting profits. The benefits would have paid their employees for years, but when the new financial year starts all profit and revenue numbers go back to 0.

That is why you no longer see very many individual companies providing pension programs to staff and why the 401(k) has become the standard. I do suggest reviewing the book to see all the ways they were able to take from their employees’ pension; it is truly dreadful.

But allow me to exhibit how these issues are pertinent to you and your pension.

Unfortunately, the very same financial consulting firms that aided the corporations to hide pension cuts also functioned by helping state governments conceal and disguise broadening pension deficits and liabilities. These financial consulting firms gave political leaders the tools to avoid fulfilling their pension payment obligations for years at a time.

This lack in funding allowed the law makers and politicians to generate cash for popular programs without increasing taxes for the general population. By doing this, the state politicians were made out to look like community champions and budget prodigies.

Lastly, just as the corporations finished up plundering their pensions, they began placing the scapegoat tag on their staff and retired workers. We are now seeing some states,(as well as some groups + organizations) putting the same scapegoat label on the public workers and retired public workers. In my home state, Illinois, some highly effective groups are getting a lot of backing and media coverage by placing much of our state’s individual issues on the “greedy” teachers and other public staff.

These groups have discussed the complete outliers who receive big pension payments (who were often, and obviously, politically connected), ignoring the modest pension benefits of the common public teacher or worker.

Of course, the real causes of budget and pension deficits are the self-serving politicians results who approved skipping out on contributions and passed the funding obligations to future generations (and, conveniently for them, future government leaders). They and the financial consulting companies functioned as their accomplices.

There are a few more factors to consider as well:

1) When the market took its big drops in 2008 + 2009, if your state’s pension account was not in excellent shape, then it most likely had to sell some of its holdings while they were cheap to pay their current obligation to retirees. This goes against the #1 procedure of investing: Buy Low, Sell High.

2) Furthermore, when this happens the account is becoming smaller rather than greater and places the pension in danger of not being able to create enough revenue to pay the benefits of future years without carrying on down the path of selling off assets.

3) Public pension benefits are calculated according to salary and years of service. It is common that the revenue in the method are the standard of the best X years. When benefits are calculated according to this method, an individual has significant incentive to press up their last few years of pay as much as possible. For example: A firefighter or police officer might work lots of overtime hours in their last few years. A teacher may take on more extracurricular assignments or responsibilities to boost their last years of pay and generate a substantial boost in benefits for the rest of their lives.

4) Salaries in the last decade have increased more than the stock market which indicates that required payments for the last several years and next few coming years of retirees have grown at a greater rate than pension funds have.

5) In addition to that, large groups of the baby boomer generation are retiring each year. This is further increasing pressure on pension funds.

6) It is also expected that over 3,000,000 of that same baby boomer generation will live to 100 or older. Enhancements in medication will increase how long retirees will be owed far longer than what current pension predictions account for.

7) Finally, pension fund managers may feel (and often actually are) compelled to take higher levels of risk to fulfill the investment return projections of the state.

Near the end of Retirement Heist, Ms. Schultz says “If employers [read: lawmakers for public pensions] continue to control the retirement system and manage it for their own benefit, then within our lifetimes, ‘retirement’ will inevitably revert to what it was in the 1930s and before. Society – and taxpayers – will be paying for services to support the millions of elderly, formerly middle – class Americans.”

The takeaway here is you should consider finding an additional way to save for your retirement along with your pension. This is to assure your retirement dollars will both outlive you and be sufficient to cover all of your expenses.

It has become extremely clear that even if you work for the most financially stable company in the world or for the state with the most well funded pension, you cannot 100% rely on that company or that state to provide you with something as important as your retirement. It is on all of us to take care and responsibility to assure we can leave the workplace and enjoy the retirement when we want to and the live the way we want.

Fast Cash Loan But Take Care of Rates

With the help of the latest internet technology, you can apply for the Illinois cash advance loans from anywhere, you don’t have to be in Illinois as your boundary is virtual. You may be based anywhere in the US, and when in need of a sudden cash requirement, you can always get a payday loan. Emergencies can happen anytime and anywhere. You do not have the time or patience go through the lengthy procedures of loan approval by banks for a regular personal loan. At that time, cash loans till payday comes very handy, all you have to do is to access the lenders’ sites through internet and start off the procedure. However, you need to be watchful that these loans entail a very high rate of interest and they are only for short durations. You should take these loans when you don’t have any other option left.

Accessibility And Criteria For Qualification

The lending amount for these loans is generally very small which is from $100 to $1000 or a few hundreds more. The payback period is also short, two to four weeks, this can be extended, but an extension creates more fee and other charges.

Cash advance loan in Illinois or for that matter any other state in the US is a fast loan option, where you need not wait for days to get the approval; this is done in hours. To start with, you must satisfy these minimum criteria:

You must be a US citizen, at least 18 years of age
You must have a steady job or a regular source of income, monthly income not less than $1000
You must have an active bank account in your name

Quick Service Is The Key

Even with a bad credit history, you just need to fulfill the above criteria and almost certainly, you will get the approval for the fast cash loans. Then the approved amount is deposited directly in your bank account. In less than a day or maximum on the next working day, you will receive the cash you need so badly. The repayment is also very simple, direct withdrawal of the amount and fee is done from your bank account on your payday. Now, you may use the money for any purpose: paying bills, credit card payments, unexpected medical expenses, travel etc.

A word of caution here, the cash advance loans in Illinois comes with a cost, a high cost. Thus, it is advisable to use the money for urgent and emergency purposes only. In addition, you must make an effort to pay back the loan as soon as possible. Loan extension and further payday loans will drive you in a bigger financial mess that you already are. A judicial and well planned payday loan is your best friend in need….indeed!

Fast cash loan is devised for receiving fast cash, in case of urgent financial requirement. The process is simple and carried out online so it is also referred to as online advance loan for people in Illinois. Eligibility criteria are also very simple for Illinois cash advance payday loan. However, make sure you do not misuse the cash advance in Illinois.