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.

Final Stretch At Illinois Statehouse

May 20, 2013

Illinois lawmakers are set to meet every day through May 31st when the session is scheduled to adjourn.  Plans for the next state budget are expected to begin surfacing this week.

Other major issues before legislators include the state's pensions, same-sex marriage, and new casinos.

The House and Senate are working on dueling versions - the Senate, for example, is expected to fight against cuts to education.

Amanda Vinicky

Although they're facing budget cuts, universities and community colleges say they're willing to begin taking on employees' pension costs.  The state covers the employers' share of retirement benefits for Illinois' public schools, colleges and universities.

WEB EXTRA: NIU Pension Overhaul Website

House Speaker Mike Madigan is insistent the state stop.

Retired state employees and teachers would see their pensions reduced under the latest measure approved in the Illinois House. The plan restricts the cost of living adjustments retirees receive, applying the bumps only to a retirees' first $25,000 in pension benefits.

Pension Proposals Move Through House

Mar 15, 2013

A pair of pension measures met success in the Illinois House. It's the first time the House passed legislation that could have a significant impact on state employees' retirement benefits, as well as that of teachers and university workers.

Quinn to Deliver "State of the State"

Feb 6, 2013
state of Illinois

WNIJ will carry the Governor's address today at noon

It is an opportunity for the Chicago Democrat to boast of his accomplishments and set the stage for his budget address in the coming weeks. Senator Mike Jacobs, a Democrat from East Moline, says he believes Quinn has done a good job despite difficult circumstances.

Pension Overhaul Remains Up In The Air

Jan 8, 2013

A proposed overhaul cleared a House committee Monday. But the full House adjourned for the day without taking action. Observers say legislative leaders are trying to round up of enough votes for the bill to pass.