Joel Babbitt

Joel Babbitt

The Importance of Choosing the Right Custodian

Just as choosing the right investment manager or managers is important for growing retirement plan
assets, carefully selecting a financially sound and experienced custodian is critical for keeping retirement
plan assets safe.

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Market Review (January 31, 2020)

U.S economic growth is estimated to grow near 2%

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Modified Annual Salary Limitation and the Annual Pension Increase in Effect for New Hires on or After January 1, 2011

In accordance with state law, the Department of Insurance (“Department”) is to annually determine certain annuity
limitations for use in benefit determinations by the Retirement Systems and Pension Funds operating under the
Illinois Pension Code.

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Patrick Nichting, Shawn Curry Tapped for New State Fire, Police Pension Boards

Patrick Nichting, Shawn Curry tapped for new state fire, police pension boards

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Interactive Visualization Shows What State and Sector Data Have Been Released

When the Bureau of Economic Analysis reported strong increases in the Real Gross Domestic Product for the United States in the last two quarters of 2017, it signaled growth in the national economy.

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Taking Next Major Step Toward Pension Consolidation, Gov. Pritzker Appoints 18 Members to Interim Police and Fire Investment Fund Boards

Taking the next major step toward consolidating the patchwork of 650 first responder pension plans across the state, Governor JB Pritzker named 18 members to two interim boards that will manage the new statewide investment funds.

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Millennial State and Local Government Employee Views on Their Jobs, Compensation and Retirement

A new issue brief finds that Millennials working in state and local government are satisfied with their jobs and intend to stay with their employers so long as their benefits are not cut.

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AARP in the States | Snapshot: State Employees’ Retirement System of Illinois

The funding of public employee pensions is
shared by employees and employers. New SERS
employees contribute 4% or 8% of their pay into
the fund, depending on if they are covered by
Social Security. Over time, investment income
earned by the fund does most of the work. In
fact, between 1993 and 2014, taxpayers paid
only 30.4% of the cost of benefts.

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Financial Security for Future Retirees: Illinois Scores 5 Out of 10

Illinois like every state faces challenges to the financial
security of future retirees. The state’s average – 5 out of 10
– score on the Financial Security Scorecard means that its
next generations have slightly higher potentials for financial
insecurity in retirement than in other states.

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Federal Aid Boosts Personal Income in Farm States

Agricultural states received an economic boost in the third quarter of 2019 after the federal government resumed special assistance payments to farmers amid ongoing trade disputes.

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