Illinois pension system

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.

Rich Egger

News about Illinois' economy is typically bleak, but at least one outside observer is seeing modest improvement.

Illinois Pension Committee Still at Work

Aug 23, 2013
Rich Egger

A bi-partisan panel of ten Illinois lawmakers has been working this summer to find a solution to the state’s pension problem.

Members of a bipartisan legislative committee in Illinois remain optimistic they'll eventually agree on how to address the state’s $100 billion pension problem.

Rich Egger

The authors of a new study say a proposal to fix Illinois' nearly $100 billion pension shortfall would undermine the retirement security of government employees

AG Madigan on Pensions

Jun 10, 2013
nj.com

Illinois Attorney General Lisa Madigan said ahead of the special assembly called by the Governor, pension reform is needed.

Special Session for Illinois Legislature

Jun 6, 2013

Illinois lawmakers will be back in Springfield on June 19 after Governor Pat Quinn announced a special session of the state legislature Thursday.

Pension Plan Advancing in Illinois

May 1, 2013

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. 

Rich Egger

Rich Egger’s guest on Emphasis is Ralph Martire, executive director of the Center for Tax and Budget Accountability. He was in Macomb to give a presentation at Western Illinois University.

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

Mar 14, 2013

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 to Release More Pension Info

Mar 11, 2013

Illinois will disclose more details about its underfunded pensions systems following an agreement with the Securities and Exchanges Commission.

Retirees to Help Pay for Healthcare

Mar 4, 2013
Rich Egger

Retired state workers in Illinois now know how much they will be required to contribute to their health care costs. The details are in the tentative contract agreement between the state and AFSCME.

The pact also will give the state the savings it had already been counting on.

Until now, state and university employees who retired after long government careers had not been required to pay any health care premiums. A new state law changed that, but how much they would pay was subject to contract negotiations, which dragged on for 15 months.

One southeast Iowa mayor knows how Iowa can spend some of its “extra” money.

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