Illinois pensions

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:

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. 

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. 


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