Illinois pensions

Developing
5:39 pm
Fri January 4, 2013

Illinois Pension Deal Could Emerge This Weekend

Credit Illinois.gov

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

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Pensions
5:55 am
Mon December 24, 2012

Teachers' Retirement System Planning Ahead for Pension Overhaul

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.

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Illinois Pensions
4:52 am
Thu December 20, 2012

Pension Problems: What's Next?

State Rep. Daniel Biss
Credit ilga.gov

Illinois has the worst-funded pension system in the country, and the General Assembly is trying to determine how to resolve the problem. What will Illinois state employees be saying about their retirement plans 30 years from now, based on decisions made today?

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Pensions
8:00 am
Wed December 19, 2012

Pension Problems: How Did Illinois Get Here?

Richard W. Ingram, Executive Director of Illinois Teachers' Retirement System
Credit TRS.gov

Lawmakers head back to Springfield in early January to try to tackle the state’s massive pension crisis. Illinois’ retirement systems have unfunded liabilities of at least $95 billion– and counting.

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Government
5:05 am
Mon October 15, 2012

Teachers Union Calls for Ouster of Pension Head

Richard Ingram
TRS

A labor union is demanding the resignation of the head of Illinois' teacher pension system. The union doesn't like what he's been saying about the future of teachers' retirement benefits. Richard Ingram says in order to solve the long-term funding problems of the Teachers' Retirement System, the state has to consider reducing automatic cost-of-living increases for retirees.

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Government
4:21 am
Mon October 15, 2012

Quinn Yet to Unveil Grassroots Pension Plan

Governor Pat Quinn initially said a campaign dealing with public employee pensions would begin in August. Illinois owes $83 billion more in pensions than there is money available.  That debt has prompted widespread calls for cuts to state employees' and teachers' benefits.

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Pension reform
2:30 pm
Fri August 17, 2012

Senate bows out of pension reform discussion

Both chambers consider limiting reform to lawmakesrs only No pension legislation will move through the General Assembly today. Legislators convened in Springfield for a special session on pensions, but the Senate has already adjourned without taking up any measures. Their website says the next session will be Nov. 27. The Illinois House was still in session at 5 p.m.

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Government
6:49 am
Tue June 19, 2012

Governor signs pension bill, but it's not the overhaul he wants

Illinois' pensions systems will get more scrutiny under legislation signed by Governor Pat Quinn. The bill calls on the state to hire an independent actuary. 

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