SPRINGFIELD, Ill. (AP) – Illinois House Speaker Michael Madigan says public employee unions have offered “no cooperation” on fixing the pension crisis. The Chicago Democrat released a sharp response Wednesday to a group of labor […]
Illinois Senate President John Cullerton (D-Chicago) said Monday that the state is only hurting itself by failing to take action to resolve its ballooning pension debt and declining credit rating.
It’s hard to believe, but there are some players in the news playing worse than the Fighting Irish.
Illinois lawmakers abruptly adjourned a lame-duck legislative session Tuesday without agreement on how to fix the nation’s most dire pension crisis, declining even to vote on the governor’s last-ditch effort to let an independent commission sort out the $96 billion mess.
A breakthrough measure to address Illinois’ $96 billion pension crisis progressed Monday in the Illinois House, but odds of a final deal before this week’s deadline grew slimmer as lawmakers left the Capitol without taking a floor vote.
Gov. Pat Quinn says, when state lawmakers go back to Springfield for their final session before the new legislature takes over, addressing the pension mess has to be their top priority.
State employee unions said Wednesday they’re willing to chip in more of their salaries toward retirements, if the state of Illinois guarantees that it will fully fund its responsibilities toward workers’ pensions.
Congress isn’t the only government body facing a “financial cliff.” Illinois lawmakers also are being warned about the state’s dire financial situation, which could get even worse if the federal government has to slash funding to the states.
Illinois edged closer to having its worst-in-the-nation credit rating lowered even further as a rating agency declared Thursday that failure to address massive pension problems is a “credit negative” for the state.
Gov. Pat Quinn said Tuesday his grassroots campaign on pension reform is going to have to wait a few weeks, despite his feelings of urgency.
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.
OMG, have you heard about it? Gov. Pat Quinn is calling the General Assembly into special session to work on the pension crisis in Illinois.
A report being released Monday contains troubling news about the Chicago pension plans covering various municipal employees.