Illinois pension reform

Western Illinois University

Illinois’ pension reform has pushed hundreds of state employees into early retirement. It’s also canceling an annual celebration in Macomb.

401(K)2012 / Flickr Creative Commons

The implementation of Illinois’ pension reform has been delayed by an injunction issued by a Sangamon County Judge.

A judge has blocked the Illinois pension overhaul from taking effect next month.

A court is being asked to prevent any aspect of Illinois' pension overhaul from taking effect, until it's decided whether the law is constitutional. A motion was filed Friday in Sangamon County Court.

A new report (PDF) says Illinois' pension overhaul will save less money than advertised. Some politicians are trying to make hay out of that. But it might not be such a big deal.

The pension vote came with promises of big savings — $160 billion. Then, after it was already law, a new analysis of the bill said, well, maybe we'll save $145 billion.

This latest report puts savings even lower, at $137 billion.

Bad Reputation for Illinois is Costly to Taxpayers

Mar 10, 2014
Rich Egger

Illinois already has the worst credit rating among states.  While that adds to the cost of borrowing money, Illinois winds up paying even more because investors view it as risky of default.

Illinois labor unions have filed a lawsuit seeking a new plan to reduce the state's $100 billion pension shortfall declared unconstitutional.

Illinois will see its budget deficit grow despite the recently-passed pension law.

Brian Mackey

Money will likely be tight for politicians crafting Illinois’ next budget, despite a pension law that's supposed to save $160 billion.

Two more groups of retired Illinois state employees have filed lawsuits challenging a new plan to eliminate the state's $100 billion public pension shortfall.

It took just a little more than a week for a pension overhaul in Illinois to go from an agreement between legislative leaders to law.

Brian Mackey

The Illinois General Assembly has approved sweeping changes to pensions for state employees and Governor Pat Quinn said he will sign the legislation.

Rich Egger

The four leaders of Illinois' General Assembly have crafted a new plan for changing the state's retirement systems.

Pension foes have shifted public attention to accounting so retiree benefits might be shifted to protect or expand corporate subsidies, like the $24 million that Archer Daniels Midland demands from the state of Illinois, according to a new report. It says the anti-pension campaign blames state or local budget problems exclusively on public pensions – pensions that were underfunded by legislatures for years so the money could be spent elsewhere, such as on corporate subsidies or politically popular tax cuts.

State Representative Elaine Nekritz (D-Northbrook) is careful these days when she talks about the status of pension deliberations.

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