Originally published on Fri May 2, 2014 4:54 pm
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.
Originally published on Thu March 27, 2014 5:03 am
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.
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.
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.
The Illinois General Assembly has approved sweeping changes to pensions for state employees and Governor Pat Quinn said he will sign the legislation.
The four leaders of Illinois' General Assembly have crafted a new plan for changing the state's retirement systems.