Illinois pensions

-Illinois
5:44 pm
Tue May 13, 2014

Deal Delays Pension Reform For Higher Ed Workers To 2015

Credit SUAA

The State Universities Annuitants Association, which lobbies to protect the pension benefits of higher education employees, and the Illinois Attorney General have reached a tentative agreement to push the start of pension reform for community college and university workers back until July 2015.  The agreement must still be approved by a Sangamon County judge.

In a release, SUAA Executive Director Linda Brookhart says the deal addresses a critical issue:

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Government
5:17 am
Wed December 18, 2013

Pension Overhaul: How Will Tax Rates Be Affected?

Jeff Brown

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. 

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Illinois Pensions
5:05 am
Tue December 17, 2013

Retirement System Prepares For Pension Overhaul And Lawsuit

Credit TRS

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.

Teachers Retirement System spokesman Dave Urbanek says the agency is preparing to implement the law when it goes into effect next year on June 1st.

TRS has been getting a lot of questions from concerned teachers, but there are no easy answers. Urbanek says every retiree will be treated differently depending on their pension amount and years of service.

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Illinois Pensions
2:50 pm
Thu December 5, 2013

Gov. Quinn Signs Pension Reform Bill

Credit Amanda Vinicky / Illinois Public Radio / WUIS

In just over a week, a pension overhaul went from an agreement between Illinois' legislative leaders to law.

On Tuesday, lawmakers voted for the plan to bring down the state's $100 billion pension debt.

Thursday, Governor Pat Quinn signed it into law.

Senator Daniel Biss, a Democrat from Evanston, was key to its passage.  During the Senate debate, he called it a reasonable compromise.

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Senate Bill 1
6:49 pm
Tue December 3, 2013

Roll Call And Reaction To Pension Overhaul Passage

House Speaker Mike Madigan, Senate Republican Leader Christine Radogno and House Republican Leader Jim Durkin
Credit Amanda Vinicky / IPR

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.

Democratic Governor Pat Quinn immediately declared victory and says he'll sign it into law, while labor unions promise a court challenge. 

Illinois Public Radio's Brian Mackey reports on Tuesday's pension vote

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Senate Bill 1 approved
3:33 pm
Tue December 3, 2013

Illinois Legislature Approves Pension Overhaul Plan

The House tally on the pension bill.
Credit Amanda Vinicky / WUIS/IPR

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 intended to save $160-billion over the next three decades. 

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Pensions
4:47 am
Mon December 2, 2013

Details Released On Pension Proposal

House Speaker Michael Madigan talked to reporters about pensions during the end of the spring legislative session; he and Senate President John Cullerton were at odds then over how to deal with the state's underfunded retirement systems.
Credit Amanda Vinicky

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.  Illinois has the nation's most underfunded retirement systems.

On Friday, the leaders' staff sent around the memo below that highlights changes for public employee pensions.  Lawmakers are expected in Springfield to vote on legislation Tuesday, December 3.  Employee unions have already indicated opposition and if it passes, a legal challenge is likely.

PENSION REFORM PROPOSAL

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Government
6:52 am
Thu November 21, 2013

NIU Workers Talk Pensions With Lawmakers

Credit NIU

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.

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Legislative Pay
5:59 am
Thu October 3, 2013

Quinn Asks State Supreme Court To Appeal Ruling

Illinois Governor Pat Quinn is seeking a direct appeal to the state's high court, as he tries to withhold legislators' pay.

Quinn vetoed legislators' salaries because he says they don't deserve it until they've passed a pension overhaul.

But a lower court ruled that's unconstitutional.

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.

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Developing
2:21 pm
Fri September 27, 2013

Lawmakers Will Get Paid: Governor Not Happy

A Cook County Judge ruled today that Illinois lawmakers will continue to receive paychecks while Governor Pat Quinn appeals a related ruling. 

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