Illinois quick hits: WIU layoff announcement expected

WIU layoff announcement expected

An announcement is expected Tuesday regarding the number of Western Illinois University employees who will be laid off.

The WIU administration and Board of Trustees are expected to approve the layoffs at their emergency board meeting. Critics of the layoffs said reducing the faculty and staff who instruct and support students will not only diminish opportunities for students but will also have dire consequences on the campus community in Macomb and Moline.

Unused college savings money for retirement

A new Illinois law allows parents who don’t use all the money in their Illinois 529 College Savings Accounts to roll over the funds into a Roth IRA.

The option is possible because Congress approved a measure in December 2022 changing Section 529 of the Internal Revenue Code to authorize tax- and penalty-free rollovers from college savings plans to Roth IRAs, with some limitations. To take effect in Illinois, however, lawmakers needed to change state law to allow the Roth IRA rollover option for Bright Start and Bright Directions 529 college savings account owners.

Heat wave continues

The heat is expected to stick around another day in Illinois. High temperatures Monday reached the 90s for much of the state with heat indices surpassing 100 degrees.

On Tuesday, some areas of southern Illinois will see temperatures approach 100 actual degrees. Temperatures are expected to moderate on Wednesday.