Illinois pensions

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.

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.

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

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.

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.

Illinois General Assembly

A lack of a pension overhaul in Springfield has prompted one lawmaker to propose changes to Illinois' constitution. The bill aims to strip a key provision that has been at center of negotiations.

Chris Slaby / Illinois Public Radio

Illinois Governor Pat Quinn gave his State of the State address this week. He repeatedly hammered a theme of political courage during his speech to the General Assembly.

Pension Reform Passes Committee, No House Vote Yet

Jan 7, 2013

There’s no deal on a pension reform plan at the Illinois Capitol…yet.

The Illinois House adjourned without a floor vote on a contentious plan to change the state’s troubled public employee pension system. An Illinois House committee today gave bi-partisan approval to a plan sponsored by Representative Elaine Nekritz. She says she expects it to be called for a vote by the House Tuesday, at the earliest.

Illinois Pension Deal Could Emerge This Weekend

Jan 4, 2013

Details are beginning to emerge about a possible pension deal.  The Governor and legislative leaders are set to meet Saturday in Chicago. 

It's not clear Illinois lawmakers will come to an agreement on the pension problem anytime soon. But that's not stopping the Teachers' Retirement System from preparing for possible changes. One of the leading pension proposals would force employees to make a choice: give up state-backed health care in retirement, or accept lower pension cost-of-living increases.