Illinois pensions

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.

Gov. Quinn Signs Pension Reform Bill

Dec 5, 2013
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.

Roll Call And Reaction To Pension Overhaul Passage

Dec 3, 2013
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. 


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. 

Details Released On Pension Proposal

Dec 2, 2013
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

NIU Workers Talk Pensions With Lawmakers

Nov 21, 2013
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.

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.

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

Pension Committee Update

Sep 27, 2013
Brian Mackey / IPR

A special committee has been negotiating over how to solve the pension problem for more than 12 weeks. 

State Rep. Elaine Nekritz, D-Northbrook, is careful these days when she talks about the status of pension deliberations, and especially when asked how close legislators are to reaching a deal.

"I have actually stopped making predictions publicly, because I have been so wrong, that I'm a little bit embarrassed at this point," she says.

Victor Yehling / WNIJ

Illinoisans continue to struggle along in the state with the “worst in the nation“ public pension system.    Now, the cries for reform are louder than ever as the deficit continues to snowball.

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