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AG's Office Funnels Money To Pensions

Tue, 11 Mar 2014 11:11:46 CDT
By: AP

Illinois Attorney General Lisa Madigan has announced her office collected nearly $1 billion in revenue last year. Officials say that's similar to yearly revenues brought in since Madigan took office. The money came through a combination of litigation and collection efforts. About one-third of the money was collected through litigation for damages to state property, child support, unpaid educational loans, fines and penalties. Other significant collections came through tobacco litigation and estate tax revenues. About $100 million is being paid into the Illinois pension systems following a federal settlement with JPMorgan Chase last year. The bank was found to have misled the state's pensions systems on investments. Madigan says her offices works to maximize revenue to support critical state programs and services.

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