Illinois pensions

Pension Stalemate Continues Among Illinois' Democratic Leaders

Tony Arnold — Fri, 14 Jun 2013 21:48:05 +0000

Illinois’ top public officials met behind closed doors today to discuss the state’s 100-billion dollar pension debt. And still - there is no clear compromise on pension reform.

House GOP Leader: Pension Stall Is Intentional

WNIJ — Thu, 13 Jun 2013 12:39:29 +0000

The top Republican in the Illinois House of Representatives says he thinks Democratic leaders are purposely not passing pension reform for their own political gain.

There are lots of conspiracies for why pension reform hasn’t been approved.

One is that it’s purely a legal debate over how to interpret the constitution.

Another - is that the powerful House Speaker and state Democratic Party Chairman Michael Madigan - is stalling because it would somehow help his daughter, Attorney General Lisa Madigan, to become governor in next year’s election.

Expert: Quinn Must Win On Pensions

Dan Klefstad — Tue, 11 Jun 2013 09:55:02 +0000

Illinois Governor Pat Quinn “Desperately needs a win” on pension reform. That’s the conclusion of political scientist Kent Redfield. The U of I - Springfield professor spoke ahead of next week’s special session on pensions, which Quinn ordered. Redfield says the Governor repeatedly blamed pension costs for the state's budget problems. If no agreement is reached, Redfield says, Quinn will look weak going into next year’s primary election:

Quinn, Legislative Leaders To Talk Pensions

WNIJ — Mon, 10 Jun 2013 11:03:37 +0000

Illinois Governor Pat Quinn says he’ll be meeting with legislative leaders Monday to discuss pension reform. Lawmakers adjourned for the summer without agreeing on the best way to reduce benefits for state employees.

Quinn says that cost is cutting into other state expenses.

Illinois' Bond Rating Downgraded 2nd Time In Week

WNIJ — Thu, 06 Jun 2013 17:52:44 +0000

A second major rating agency is downgrading Illinois' credit worthiness. Moody's Investors Service lowered the state's $27 billion in outstanding bond debt to A3 from A2. The new rating's three levels above junk status.