CBS 2 Chicago wbbm7801059 670 The Score

Local

State Worker Retirements Surging Amid Pension Reform Talk

View Comments
Illinois State Capitol

Illinois State Capitol buillding in Springfield (AP Photo)

Don't Miss This

CHICAGO (CBS) – With state lawmakers trying to hash out comprehensive pension reform by the end of the year, Illinois state workers are retiring in record numbers to make sure they preserve their existing benefits.

WBBM Newsradio’s Dave Berner reports, since June of last year, some 4,750 rank-and-file state workers have retired, nearly the same number as the previous two years put together.

Timothy Blair, executive director of the State Employees’ Retirement System – one of five state-funded pension systems – told the Chicago Tribune “that’s just a big number.”

LISTEN: WBBM Newsradio’s Dave Berner reports


He said the state’s university pension system has seen a rise in retirements, as have suburban and downstate school districts – where teacher pensions are funded by the state.

Workers are hoping to avoid likely coming cuts in pension benefits, but it’s unclear if the strategy would work. Lawmakers have talked about reining in benefits for workers who have already retired, although it’s unclear if that move would be constitutional.

The Illinois Constitution says that the pensions of any government employee in the state “shall not be diminished or impaired,” although some have argued that only means pension changes cannot be applied retroactively, and future pension earnings can be reduced by agreement with the respective labor unions.

The governor and state lawmakers have been working to overhaul the state’s pension systems, as the state’s pension debt threatens to swell to $93 billion by next summer.

Gov. Pat Quinn has ordered lawmakers to return to Springfield on Friday for a special session to deal with pension reform, but the prospects for an agreement by then appear dim. However, both the governor and legislative leaders have previously said they want to come up with a pension reform plan by the end of the year, to avoid a downgrade in the state’s bond rating.

View Comments
  • http://mnlabor.wordpress.com/2012/08/13/state-worker-retirements-surging-amid-pension-reform-talk-cbs-chicago/ State Worker Retirements Surging Amid Pension Reform Talk « CBS Chicago « MNLABOR

    [...] State Worker Retirements Surging Amid Pension Reform Talk « CBS Chicago. Share this:PrintEmailLike this:LikeBe the first to like [...]

blog comments powered by Disqus
Listen Live!

RSS Most Popular News

Follow CBS Chicago

Like us on foursquare

RSS Contests & Promotions

  • Benjamin Moore Which Team Colors Matter Most? May 24, 2013
    Which Team Colors matter most to you? Either way, you could be a winner! Just sign up now for a chance to win $500 Depot Dollars to the Chicago Sports Depot to pick up some gear with your favorite team colors as they battle it out this week!
  • AVEENO® MEN’S “Building a Healthier Foundation” Sweepstakes May 21, 2013
    AVEENO® Men’s™ knows your family is your foundation. And to take good care of them, you need to take good care of yourself. Win a family day at the ballpark from AVEENO® Men’s™.
  • Join Hankook Tire To Reel In The Next Big Catch May 20, 2013
    Join Hankook tire to reel in the next great catch! Click here to go to www.TirePrize.com and enter for your chance to win the ultimate fishing excursion in Puerto Rico!
  • Meet Jim Rome On Set In Los Angeles May 20, 2013
    AutoZone and the Jim Rome Show are giving one winner and a guest a trip to meet Jim Rome in Los Angeles on the set of his Showtime television show! Enter for your chance to win!
WBBM Newsradio 780, Radio Stations & Broadcast Companies, Chicago, IL

Twitter Updates