pensions

Illinois
6:45 am
Mon November 24, 2014

Ears Turn To Supreme Court For Next Pensions Cue

Gov. Pat Quinn is surrounded by legislative leaders and lawmakers who helped write the pension plan, as he signs it into law.

Originally published on Mon November 24, 2014 1:17 am

Although one court has tossed out Illinois’ mega pension overhaul, state leaders are likely to wait on another legal opinion before deciding what to do next.

There’s no question -- the Sangamon County Circuit Court judge’s ruling is meaningful. But Attorney General Lisa Madigan’s office is appealing to the state Supreme Court.

Madigan has said it makes sense for lawmakers to wait to hear from those justices.

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Politics
6:39 am
Mon September 29, 2014

New Report Shows Illinois' Long Pension Struggle

Credit Brian Mackey / WUIS

Politicians, public employee unions and others spent the last several years focused on pensions. Illinois racked up a $100 billion unfunded liability -- largely because lawmakers didn't pay the state's share of its workers retirement benefits.

Eric Madiar is the top attorney for the Illinois Senate President. He found a report that said Illinois' pension systems were on the "verge of insolvency" in 1917.

"...and it stemmed primarily from the fact had not been properly been financing pensions."
--- Eric Madiar, Senate Democrats' Chief Legal Counsel

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Illinois
6:09 am
Mon July 28, 2014

Unions Hint Lawmakers Missed Chance To Negotiate Pensions

Credit state of Illinois

Legislators passed a law overhauling the state's retirement systems. Soaring pension debt remains a concern. The law's constitutionality is also in question. It reduces workers' and retirees' benefits, and raises the retirement age.

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-Illinois
5:13 am
Thu May 15, 2014

Judge Puts Hold On Pension Reform Law

Credit flickr user / Brian Turner (CC BY 2.0)

Sangamon County Circuit Court Judge John Belz has issued a temporary restraining order that prevents Illinois' pension reform law from being implemented until questions about the law's constitutionality and a suit challenging it can be resolved.  The law was scheduled to take effect June 1. 

Five lawsuits by groups representing state workers and retirees challenging the law have been consolidated in Sangamon County court.   

It's a temporary victory for government employees who say the law is unconstitutional.

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Illinois Pensions
11:14 am
Fri September 27, 2013

Pension Committee Update

Rep. Darlene Senger, R-Naperville (left) and Rep. Elaine Nekritz, D-Northbrook, discuss estimated savings of a previous plan designed to cut the state's pension costs.
Credit 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.

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Illinois Pensions
5:29 am
Tue August 27, 2013

Pension Savings Estimate Off By $25 Billion

file photo of pension committee
Credit Illinois Public Radio

The estimated savings on a state pension proposal backed by Illinois House Speaker Mike Madigan is billions of dollars less than originally thought.  

The Teachers Retirement System made a mistake in its calculations. The revision was outlined in a letter to the bipartisan panel working on solving Illinois' pension shortfall.

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Pensions
6:26 am
Mon August 5, 2013

Pritchard: Salary Lawsuit Is Needed

Rep. Bob Pritchard
Credit ilga.gov

Illinois lawmakers and Governor Pat Quinn remain at a standstill over a pension overhaul plan. Legislative leaders sued the Governor last week after he blocked lawmaker paychecks because of inaction on the state's growing pension obligations.

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Pensions
5:51 am
Wed July 31, 2013

Legislative Leaders Sue Quinn

Credit state of Illinois

The leaders of the Illinois General Assembly have sued Governor Pat Quinn over his veto of lawmakers' salaries.

Quinn vetoed lawmakers salaries out of the budget as a sort-of punishment for not passing legislation to overhaul Illinois' government-employee pension systems.

In a joint lawsuit filed in Cook County, House Speaker Michael Madigan and Senate President John Cullerton say the governor overstepped his bounds.

Rikeesha Phelon is a spokeswoman for the Senate president:

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Pensions
4:59 am
Tue July 30, 2013

Brady: Pension Panel Close To Compromise

File photo: Democratic legislators Rep. Elaine Nekritz (D-Northbrook) and Sen. Kwame Raoul (D-Chicago) prepare to begin the General Assembly's conference committee hearing on pensions.
Credit Illinois Public Radio/WUIS

A member of the Illinois General Assembly's special pension committee says the group is waiting for what he hopes will be the final round of budget analysis.

The pension conference committee is trying to find a way to reduce Illinois roughly $100 billion in unfunded future pension liabilities. The group comprises 10 senators and representatives, both Democrats and Republicans.

State Sen. Bill Brady is a Republican from Bloomington. He says there has been a lot of compromise.

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pensions
6:08 am
Mon July 29, 2013

Credit Union Offers Loan To Lawmakers

Credit state of Illinois

Illinois lawmakers will not be getting their monthly paycheck, starting next week. At least one financial institution is offering to help tide them over until the General Assembly's dispute with the Governor is resolved.  Lawmakers' base salary of $68,000 has been set to zero - Gov. Pat Quinn vetoed their pay out of the budget as a sort of punishment for the General Assembly not passing a pension overhaul.

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