pensions

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.gov

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.

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