Illinois pension reform

Pension Reform Moves Ahead in Illinois

Brian Mackey and Chris Slaby — Fri, 10 May 2013 02:30:13 +0000

The Illinois Senate has approved an overhaul of the state's pension systems.

Sen. Sullivan on Pension Reform Bills

Scott Stuntz — Wed, 08 May 2013 20:50:49 +0000

A state lawmaker from Western Illinois says the Senate version of pension reform can make it through both chambers of the general assembly.

Pension Overhaul Passes Illinois House

Brian Mackey — Thu, 02 May 2013 22:35:06 +0000

The Illinois House of Representatives has approved a massive overhaul of state pensions.

It's the first time the House has passed such a plan after more than a year of negotiating and many failed attempts.

Pension Plan Advancing in Illinois

Amanda Vinicky — Wed, 01 May 2013 16:57:50 +0000

The Illinois House is poised to vote Thursday, May 2, on an overhaul of the state's pension systems. It would reduce state workers', teachers', and university employees' future retirement benefits.

The plan easily advanced out of a House committee Wednesday, and there is a feeling in the capitol that after countless attempts to reduce the state's pension debt, this might be the plan that does the trick.

Insiders say it's significant that the plan is sponsored by House Speaker Michael Madigan (D-Chicago), who rarely takes action without having support locked up.

Proposals and Polls about Pension Reform

Bill Knight — Wed, 20 Mar 2013 16:04:54 +0000

Most Illinois House members recently backed a measure to limit the salary on which public employees’ retirement benefits could be based. One of a few proposals to address the state’s $96 billion pension shortfall, it was seen as a test vote as lawmakers grapple with some way to make good on years of the legislature failing to make its payments.

Pension Plans Advance in Illinois Legislature

Brian Mackey — Thu, 14 Mar 2013 16:03:21 +0000

The Illinois Senate has moved forward with a pair of measures (SB 1 and SB 35) that would strip government workers of some of their pension benefits. The changes would impact state and university employees, as well as downstate and suburban public school teachers.

Illinois Pension Reform Plans Go Nowhere Fast

Brian Mackey — Fri, 01 Mar 2013 00:48:58 +0000

It was billed as a "day of pensions" in the Illinois House. But it turned into about a half-hour's worth as Illinois lawmakers continue having a hard time confronting the state's $100 billion problem.

There were four proposals reviewed on February 28, each more harsh than what's been discussed in other pension overhauls.

New Proposal for Illinois Pension System

Chris Slaby — Thu, 21 Feb 2013 20:32:49 +0000

The Illinois income tax increase would be made permanent in the latest proposal to fix the state's underfunded pension systems.

The income tax plan approved by lawmakers temporarily increased the rate from 3% to 5%. It’s scheduled to begin decreasing in 2014.

But Representative Lou Lang (D-Skokie) said the state can't afford that. Lang said Illinois taxpayers didn't create the pension problem, but it's a problem they're stuck with.

“"We have a responsibility to fix it. And we have a responsibility to have shared sacrifice,” Land said.

Still No Closer to Pension Solution in Illinois

Illinois Public Radio — Tue, 12 Feb 2013 00:25:28 +0000

Union leaders met with Governor Pat Quinn and members of the legislature on February 11 to talk about the state's underfunded pension system. They billed it as a chance to work together on a divisive issue but the two sides remain far apart.

The unions represent a range of government workers, from prison guards to teachers. After the meeting, they issued a statement saying it shows they can "work together constructively with all parties."

Illinois House Adjourns Without Vote on Pension Plan

Amanda Vinicky — Tue, 08 Jan 2013 00:11:33 +0000

Over the protests of state employee unions, an Illinois House committee gave bipartisan support to a plan intended to repair Illinois' underfunded pensions. But the full House adjourned Monday without taking a vote.

The legislation would leave workers paying more for a smaller retirement benefit. House Republican leader Tom Cross said the change is necessary given the condition of Illinois' pension systems.