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Pension Debt

Illinois House Speaker Michael Madigan

Madigan: ‘No Cooperation’ From Unions On Pension Reform

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 […]

01/30/2013

Illinois State Capitol

Cullerton Hopes Latest Hit To State’s Credit Rating Prompts Pension Reform Vote

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.

01/28/2013

Walter Jacobson

Walter’s Perspective: More Of The Same Nothing From Lawmakers On Pension Crisis

It’s hard to believe, but there are some players in the news playing worse than the Fighting Irish.

CBS 2–01/08/2013

Illinois House Floor

Illinois House Ends Current Session With No Vote On Pension Reform

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.

01/08/2013

Illinois State Capitol

House Committee Backs Pension Reform Plan, But No Floor Vote Yet

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.

01/07/2013

Gov. Pat Quinn (Credit: CBS)

Quinn: ‘High Noon’ Coming For State’s Pension Mess

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.

CBS Chicago–12/28/2012

Illinois State Capitol

Unions Willing To Pay More To Keep Unions, If State Guarantees Its Share

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.

WBBM Newsradio–12/19/2012

Illinois State Capitol

Illinois Lawmakers Warned About State’s Fiscal Cliff

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.

WBBM Newsradio–11/15/2012

Illinois State Capitol

Pension Chaos A ‘Negative’ For Illinois Credit Rating

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.

CBS Chicago–08/23/2012

Gov. Pat Quinn. (Credit: Craig Dellimore/WBBM Newsradio)

Governor Won’t Launch Pension Reform Push Until Next Month

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.

CBS Chicago–08/21/2012

Illinois State Capitol

State Worker Retirements Surging Amid Pension Reform Talk

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.

CBS Chicago–08/13/2012

Walter Jacobson

Walter’s Perspective: No Sympathy For Lawmakers’ Special Session

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.

07/31/2012

City Hall

Study: Local Government Pension Debt At More Than $27 Billion

A report being released Monday contains troubling news about the Chicago pension plans covering various municipal employees.

CBS Chicago–06/25/2012

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