pensions

Brady: Pension Panel Close To Compromise

Jul 30, 2013
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.

Credit Union Offers Loan To Lawmakers

Jul 29, 2013
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.

Topinka: No Checks For Lawmakers

Jul 26, 2013

Illinois lawmakers will not get their paychecks for the month of August. Governor Pat Quinn took the unusual step earlier this month of cutting lawmakers’ pay from the state budget.

He says they won’t get paid until they pass a pension overhaul.

state of Illinois

Illinois lawmakers will gather for a special session Wednesday. They were called to address the state's pension crisis. But they're expected to pass off the problem to a legislative committee.

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:

Illinois Municipal Pension Fund On Firm Ground

Jun 4, 2013

It's no secret that Illinois has one of the worst funded pension systems in the country. But the fund that covers municipal workers is in better shape.

What's Left? Pensions, Guns, And Same-Sex Marriage

May 31, 2013
Illinois Public Radio / Chris Slaby

Illinois has the worst funded pension system in the nation, and lawmakers have until tonight to do something about it. 

The General Assembly is scheduled to adjourn by midnight.  After that, it requires extra votes to get legislation to the governor's desk.  Pensions are not the only thing left. 

Recent Statehouse Action:

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.

Judges Left Out Of Pension Deals

May 24, 2013
Illinois Supreme Court

There's a lot of angst, uproar and fussing at the capitol over what's happening with the state's pension systems.

What legislators do about it will have ramifications for the Illinois budget, as well as for state employees' and teachers' pocketbooks - not to mention politicians' own political and financial futures.

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