Illinois pensions

ilga.gov

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

Jun 11, 2013
UIS

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:

Brian Mackey

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.

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. 

Brian Mackey / Illinois Public Radio

Illinois Democrats continued approving a new state budget on party-line votes. The Senate approved spending plans for education --  from elementary and high schools to colleges and universities -- with funding pretty much at last year's level.

Cuts proposed earlier this year by Governor Pat Quinn did not materialize, partly because Illinois collected more tax money than it expected in April.

Sen. Dan Kotowski, D-Park Ridge, says funding for higher education is critical because it's tied to the problem of unemployment.

state of Illinois

One of the toughest issues facing Illinois lawmakers is moving along in the legislature. The House approved a plan supported by House Speaker Michael Madigan this afternoon. It now moves to the Senate.

ilga.gov

UPDATE: The Illinois House is poised to vote Thursday on an overhaul of the state's pension systems. It would reduce state workers', teachers', and university employees' future retirement benefits. The plan easily advanced out of a House committee Wednesday morning.

ilga.gov

The Illinois Senate has passed a pension overhaul, but it only affects suburban and downstate teachers.  It doesn't touch state employees' and university workers' retirement benefits.

SEC: Illinois Misled Investors

Mar 12, 2013
ilga.gov

Republican Leader Says Investigation Highlights State's Pension Problem

Illinois has agreed to disclose more about its underfunded pensions systems following a Securities and Exchanges Commission investigation.

ilga.gov

The Illinois House continued test votes on measures to address the state's pension problem ... and after a series of failures, one finally passed. Most Republicans are still boycotting the process.

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