Pension Crisis

The Illinois Supreme Court building in Springfield, Ill. (Credit: Illinois.gov)

Madigan To Appeal Pension Law Ruling To Supreme Court “Shortly”

Illinois Attorney General Lisa Madigan said she expects the state’s highest court could take up the state’s landmark pension overhaul plan by the end of January, now that a lower court judge has ruled it unconstitutional.

11/24/2014

Illinois State Capitol

Judge Rules Illinois Pension Overhaul Unconstitutional

Sangamon County Circuit Judge John Belz ruled Friday in favor of state employees and retirees who sued to block the state’s landmark pension overhaul. The state is expected to appeal the ruling directly to the Illinois Supreme Court.

11/21/2014

Better Government Association logo. (Credit: BGA)

BGA: Suburban Police, Fire Pension Fund Shortfalls Total $3.3 Billion

Police and fire departments across suburban Cook County might be in line for some budget cuts, as huge pension problems loom, according to a report from a government watchdog.

08/06/2014

City Hall

Aldermen Back Mayor’s Plan To Hike Phone Tax To Fund Pensions

Mayor Rahm Emanuel said he has lined up enough City Council support to increase the monthly surcharge added to phone bills in Chicago, as part of the effort to address the city’s pension crisis.

06/26/2014

Mayor Rahm Emanuel. (Credit: Craig Dellimore/WBBM Newsradio)

Mayor Urges Governor To Sign Chicago Pension Reform Plan

Mayor Rahm Emanuel essentially told Gov. Pat Quinn on Thursday, “I scratched your back, now you scratch mine,” when it comes to pension reform, amid signs the governor might veto or significantly alter legislation to reform two city pension funds.

05/15/2014

City Hall

Mayor To Seek $250 Million Property Tax Hike To Address Pension Debt

Mayor Rahm Emanuel has proposed raising property taxes by $250 million over five years as part of a pension reform plan that also would require city workers to pay more toward their pensions.

04/01/2014

Illinois State Capitol

Chicago Workers, Retirees Head To Springfield To Protest Pension Reform

Chicago public employees and retirees have been descending on Springfield on Wednesday for a rally to protest the state’s new pension reform law.

02/19/2014

Illinois State Capitol

Illinois Lawmakers OK Pension Reform Plan

The Illinois Legislature approved a historic plan Tuesday to eliminate the state’s $100 billion pension shortfall, a vote that proponents described as critical to repairing the state’s deeply troubled finances but that faces the immediate threat of a legal challenge from labor unions.

12/03/2013

Illinois State Capitol

Lawmakers Get Details Of Pension Reform Plan; Could Vote Tuesday

Illinois’ legislative leaders briefed other lawmakers Friday on details of a breakthrough agreement for solving the state’s $100 billion pension crisis, leaving them four days to study the plan before facing a vote that could be crucial for the state’s financial condition and their own re-election plans.

11/29/2013

Illinois State Capitol

Legislative Leaders Reach Deal On Pension Reform

After more than five months of work, Illinois’ legislative leaders announced Wednesday they’ve reached a deal to help solve the state’s $100 billion pension problem, considered the nation’s worst.

11/27/2013

Gov. Pat Quinn (Credit: CBS)

Quinn: Veto Session Valuable To ‘Lay Foundation’ For Key Issues

Gov. Pat Quinn says he’s not discouraged that lawmakers came away from two days of their fall veto session without tackling any of the major issues on their agenda.

10/24/2013

Mayor Rahm Emanuel presents his annual budget address at City Hall on Oct. 23, 2013. (Credit: CBS)

Emanuel’s 2014 Budget Speech Includes Warning About Pension Crisis

The mayor also warned aldermen the city his efforts to avoid raising property taxes has been put in jeopardy by the continuing pension crisis in Illinois.

10/23/2013

Gov. Pat Quinn (Credit: CBS)

Ill. Supreme Court To Hear Appeal On Lawmaker Pay Dispute

Gov. Pat Quinn’s appeal of a ruling that his veto of lawmakers’ pay was unconstitutional will be heard by the Illinois Supreme Court.

10/17/2013

Gov. Pat Quinn (Credit: CBS)

Appeals Court Denies Quinn’s Latest Bid To Block Lawmakers’ Pay

Gov. Pat Quinn lost another round in his bid to block lawmakers’ paychecks until they send him a pension reform plan, when the Illinois Appellate Court denied his request to stop legislators from getting paid.

09/27/2013

Gov. Pat Quinn (Photo by Streeter Lecka/Getty Images)

Hearing Today On Fight Over State Lawmakers’ Pay

House Speaker Michael Madigan and Senate President John Cullerton sued after Gov. Pat Quinn used his veto power earlier this summer to cut money for legislators’ salaries from the state budget.

09/18/2013

City Hall

Standard & Poor’s Lowers City’s Outlook To ‘Negative’

Standard & Poor’s cited Chicago’s $19.4 billion pension crisis, the city’s mountain of debt, and its historic “reluctance to adjust taxes” despite its sweeping home-rule powers and diverse economy.

09/17/2013

Gov. Pat Quinn (Photo by Streeter Lecka/Getty Images)

Quinn Pleased With ‘Positive’ Framework From Pension Committee

Gov. Pat Quinn appears happy about the progress state lawmakers have been making on pension reforms.

08/26/2013

Illinois State Capitol

Lawmaker: Pension Reform Talks ‘Very Delicate,’ But Making Progress

A leading state lawmaker said a bipartisan pension reform committee has been making progress toward a deal, though not as quickly as they’d like.

WBBM Newsradio–08/20/2013

Illinois State Capitol

September Hearing Set On Dispute Over Lawmakers’ Salary

“This is going to be a landmark case,” said Gov. Pat Quinn, who used his veto power last month to block lawmakers’ salaries over their failure to reach an agreement on pension reform.

08/06/2013

Gov. Pat Quinn presents his annual budget address to the Illinois General Assembly on March 6, 2013, in Springfield. (Credit: CBS)

Quinn Dares Lawmakers To Override Veto Denying Their Pay

The Governor said there was no reason for lawmakers to go to court to reverse him. They could do it themselves.

07/31/2013

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