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Pension Costs

City Hall

Labor Unions Plan To File Lawsuit Against City Pension Reform Law

Labor leaders were planning to go to court to block legislation cutting pension benefits and raising the retirement ages for many city workers, and opening the door for a property tax hike to help pay the city’s share of employee pension costs.

06/10/2014

CPS Classroom

Teachers Union Fears Massive Layoffs Due To School Closings, Pension Costs

With 49 elementary schools set to close this summer, and the district facing an additional $412 million in pension costs, the Chicago Teachers Union estimated hundreds – if not thousands – of teachers could be laid off to reduce district spending.

WBBM Newsradio–06/05/2013

(Credit: Thinkstock)

Schools Worry About Covering Teacher Pension Costs

Public school administrators told lawmakers Thursday that some local districts would have to raise property taxes if legislators vote to have them cover the cost of teacher pensions.

05/10/2013

City Hall

Emanuel Vows Full-Court Press On Pension Reform

Faced with an employee pension crisis that could become his biggest challenge, Chicago Mayor Rahm Emanuel said Thursday he is putting his full force behind getting lawmakers in Springfield to achieve an overhaul of the state’s pension systems.

10/11/2012

James R. Thompson Center

Governor, Legislative Leaders Still Divided On Pension Reform

Gov. Pat Quinn and the state’s four legislative leaders remained split on how to fix the state’s severely underfunded public pension systems, though the governor did signal a shift in philosophy regarding teacher pensions.

CBS Chicago–06/06/2012

Illinois General Assembly

Chances For Pension Reform By Midnight Deadline Appear Slim

The chances of making major reforms to the state’s public pension systems appear to be dead in Springfield, at least for now.

CBS Chicago–05/31/2012

Illinois State Capitol

Madigan Drops Effort To Shift Teacher Pension Costs To Local Districts

Prospects for pension reform in Illinois improved measurably late Wednesday night, when House Speaker Mike Madigan dropped his proposal to make public schools and state universities pay retirement costs for their employees, rather than the state.

05/30/2012

Empty Classroom

Big Raises Mean Big Pension Penalties At Suburban Schools

Suburban school districts are pushing back hard against a 2005 state law that was meant to rein in Illinois’ skyrocketing pension costs.

CBS Chicago–04/13/2012

Illinois State Capitol

Conservative Group Presents Alternative State Budget Plan

A conservative think tank has proposed an alternative state budget that would cut wages for state employees by 10 percent; require retired workers to pay for their own health care premiums; and force local school districts to fund teacher pensions, instead of the state.

CBS Chicago–03/08/2012