The decree puts new Republican Gov. Bruce Rauner and Democrats who control the General Assembly back at the starting line in trying to figure out how to wrestle down a $111 billion deficit in what’s necessary to cover its state employee retirement obligations.
The board of the State Universities Retirement System voted Thursday to accept an interpretation of last year’s state-pension reform law that says the law won’t inadvertently cut university retirees’ pensions.
The University of Illinois was warning state lawmakers of a problem with a pension reform plan that the school fears will trigger a crippling “brain drain” as faculty members consider retiring this summer.
Several state lawmakers have opted out of their legislative pensions, while the state continues to struggle with a massive pension debt, but a local budget policy group said the lawmakers’ actions are neither effective, nor relevant.
They aren’t government employees. They are in effect lobbyists, but their salaries and pensions are funded in part by your tax dollars.
Some Democrats in the Illinois House are flip-flopping on whether to crack down on pension abuses by union officials, including two lobbyists who got teacher pensions for working just one day in the classroom.
Some Illinois lawmakers are having second thoughts about cracking down on pension abuses by union officials, including two lobbyists who qualified for teacher pensions by spending a single day in the classroom.
Illinois Senate President John Cullerton (D-Chicago) says cutting pension benefits for current state employees is, in his words, “clearly unconstitutional.”
Illinois lawmakers have approved a pension reform proposal that Mayor Richard M. Daley warned would result in the largest property tax hike in Chicago history.