Illinois pension system

Governor Will Sign the Bill
9:08 pm
Tue December 3, 2013

Illinois Legislature Passes Pension Reform

The Illinois Capitol
Credit 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.

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Bill Knight – October 31
6:12 pm
Wed October 30, 2013

Public Pensions & Corporate Subsidies

Bill Knight

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.

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$100 Billion in Liabilities
11:28 am
Thu September 26, 2013

Still Waiting for Illinois Pension Report

The Illinois Capitol building

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

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Moody’s Analysis
1:37 pm
Mon September 9, 2013

Illinois Economy Slowly Improving

Credit Rich Egger

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

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$100 Billion Unfunded Liability
11:31 am
Fri August 23, 2013

Illinois Pension Committee Still at Work

Credit 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.

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No Details Released
9:52 am
Thu August 15, 2013

Pension Committee Reports Progress

The Illinois Capitol building

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.

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Labor-Backed Research
5:37 pm
Wed August 14, 2013

Study: Pension Reform Proposal Flawed

Credit 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

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says plan is needed "sooner rather than later."
2:46 pm
Mon June 10, 2013

AG Madigan on Pensions

Illinois Attorney General Lisa Madigan

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

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Pension Issue Needs Resolution
5:56 pm
Thu June 6, 2013

Special Session for Illinois Legislature

The Illinois Capitol Building

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

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House Vote Forthcoming
11:57 am
Wed May 1, 2013

Pension Plan Advancing in Illinois

Illinois House Speaker Michael Madigan

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. 

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