Corporate Health Remains Strong
The second quarter’s earnings season (data reported in early 3Q) is nearly complete with 96% of S&P 500 companies having reported their current financial status. The biggest takeaway is that US corporate health remains strong. Both revenues and earnings are higher than last year. Earnings grew +24.7% year-over-year while Revenues grew +9.0%. Corporate borrowing levels […]
Pension Intercept Law
BACKGROUND Illinois passed what is known as the Pension Intercept Law (Public Act 96-1495) in 2011, but, for several reasons it did not fully take effect until 2016. This law gives pension funds the ability to intercept state shared revenue to fund pension obligations if they are not funded at their minimum requirement. As Illinois […]