Illinois pensions http://northernpublicradio.org en Pension Overhaul: How Will Tax Rates Be Affected? http://northernpublicradio.org/post/pension-overhaul-how-will-tax-rates-be-affected <p>This month, Illinois lawmakers took a major step in repairing the state's finances by approving a pension overhaul. The plan has its critics, including unions who promise to file a lawsuit. The courts will decide whether the pending changes violate the state's constitution.&nbsp; Wed, 18 Dec 2013 11:17:59 +0000 Mike Moen 40603 at http://northernpublicradio.org Pension Overhaul: How Will Tax Rates Be Affected? Retirement System Prepares For Pension Overhaul And Lawsuit http://northernpublicradio.org/post/retirement-system-prepares-pension-overhaul-and-lawsuit <p>Illinois' largest state government retirement system is moving ahead with implementation of the pension overhaul. The move comes even as unions are preparing a lawsuit.</p><p><span style="line-height: 1.5;">Teachers Retirement System spokesman Dave </span>Urbanek<span style="line-height: 1.5;"> says the agency is preparing to implement the law when it goes into effect next year on June </span>1st<span style="line-height: 1.5;">.</span></p> Tue, 17 Dec 2013 11:05:20 +0000 Brian Mackey 40544 at http://northernpublicradio.org Retirement System Prepares For Pension Overhaul And Lawsuit Gov. Quinn Signs Pension Reform Bill http://northernpublicradio.org/post/gov-quinn-signs-pension-reform-bill <p><span style="line-height: 1.5;">In just over a week, a pension overhaul went from an agreement between Illinois' legislative leaders to law.</span></p><p>On Tuesday, lawmakers voted for the plan to bring down the state's $100 billion pension debt.</p><p>Thursday, Governor Pat Quinn signed it into law.</p><p>Senator Daniel Biss, a Democrat from Evanston, was key to its passage.&nbsp; During the Senate debate, he called it a reasonable compromise.</p> Thu, 05 Dec 2013 20:50:16 +0000 WNIJ 40012 at http://northernpublicradio.org Gov. Quinn Signs Pension Reform Bill Roll Call And Reaction To Pension Overhaul Passage http://northernpublicradio.org/post/roll-call-and-reaction-pension-overhaul-passage <p><span style="line-height: 1.5;">Illinois lawmakers approved cuts to state employee pensions Tuesday. The move comes after years of stalemate over how to address the worst-funded pension plans of any state.</span></p><div>Democratic Governor Pat Quinn immediately declared victory and says he'll sign it into law, while labor unions promise a court challenge.&nbsp;</div><p></p><p> Wed, 04 Dec 2013 00:49:52 +0000 WNIJ & Susan Stephens 39929 at http://northernpublicradio.org Roll Call And Reaction To Pension Overhaul Passage Illinois Legislature Approves Pension Overhaul Plan http://northernpublicradio.org/post/illinois-legislature-approves-pension-overhaul-plan <p>Illinois lawmakers approved a pension overhaul Tuesday. The Senate passed the plan 30 - 24, and the House approved it on a 62 - 53 vote. Governor Pat Quinn has indicated he will sign this bill, which is&nbsp;<span style="line-height: 1.5;">intended to save $160-billion over the next three decades.&nbsp;</span></p><p></p><p> Tue, 03 Dec 2013 21:33:37 +0000 Susan Stephens & Mike Moen 39910 at http://northernpublicradio.org Illinois Legislature Approves Pension Overhaul Plan Details Released On Pension Proposal http://northernpublicradio.org/post/details-released-pension-proposal <p>Earlier this week, legislative leaders announced a deal to bring a pension overhaul before the full chambers. It is estimated to save $160 billion over the next 30 years.&nbsp; Illinois has the nation's most underfunded retirement systems.</p><p>On Friday, the leaders' staff sent around the memo below that highlights changes for public employee pensions.&nbsp; Lawmakers are expected in Springfield to vote on legislation Tuesday, December 3.&nbsp; Employee unions have already indicated opposition and if it passes, a legal challenge is likely.</p><p><em>PENSION REFORM PROPOSAL</em></p> Mon, 02 Dec 2013 10:47:29 +0000 Illinois Public Radio 39822 at http://northernpublicradio.org Details Released On Pension Proposal NIU Workers Talk Pensions With Lawmakers http://northernpublicradio.org/post/niu-workers-talk-pensions-lawmakers <p></p><p>Employee councils from NIU co-hosted a forum Wednesday, which included several area state lawmakers. The event was viewed as an opportunity for NIU faculty to offer their thoughts as the General Assembly continues to explore how to fix Illinois' troubled pension system. Thu, 21 Nov 2013 12:52:49 +0000 Mike Moen 39371 at http://northernpublicradio.org NIU Workers Talk Pensions With Lawmakers Quinn Asks State Supreme Court To Appeal Ruling http://northernpublicradio.org/post/quinn-asks-state-supreme-court-appeal-ruling <p>Illinois Governor Pat Quinn is seeking a direct appeal to the state&#39;s high court, as he tries to withhold legislators&#39; pay.</p><p>Quinn vetoed legislators&#39; salaries because he says they don&#39;t deserve it until they&#39;ve passed a pension overhaul.</p><p>But a lower court ruled that&#39;s unconstitutional.</p><p>In a brief that asks the Illinois Supreme Court to hear the case, the Quinn administration argues that it is too early for the judiciary to intervene with his veto because the General Assembly never took a vote attempting to override him.</p> Thu, 03 Oct 2013 10:59:12 +0000 WNIJ 37068 at http://northernpublicradio.org Quinn Asks State Supreme Court To Appeal Ruling Lawmakers Will Get Paid: Governor Not Happy http://northernpublicradio.org/post/lawmakers-will-get-paid-governor-not-happy <p>A Cook County Judge ruled today that Illinois lawmakers will continue to receive paychecks while Governor Pat Quinn appeals a related ruling.&nbsp;</p><p> Fri, 27 Sep 2013 19:21:47 +0000 Susan Stephens 36802 at http://northernpublicradio.org Lawmakers Will Get Paid: Governor Not Happy Pension Committee Update http://northernpublicradio.org/post/pension-committee-update <p style="margin-bottom: 15px; padding: 0px; border: 0px; font-size: 15px; vertical-align: baseline; color: rgb(51, 51, 51); font-family: Georgia, Times, serif; line-height: 22px;">A special committee has been negotiating over how to solve the pension problem for more than 12 weeks.&nbsp;</p> Fri, 27 Sep 2013 16:14:34 +0000 Amanda Vinicky 36770 at http://northernpublicradio.org Pension Committee Update