It’s deadline day for Gov. Pat Quinn. He has until midnight to decide how to act on legislation to overhaul some of Chicago’s underfunded employee pension systems.
A plan to overhaul some of Chicago’s underfunded employee pension systems could spell a long weekend for Gov. Pat Quinn, who has until Monday to decide what to do with the legislation on his desk.
Illinois House Speaker Michael Madigan might not be in touch with Gov. Pat Quinn, but there might be some behind-the-scenes work ahead to resolve the state’s pension reform impasse before a special session of the General Assembly on June 19.
Illinois State Comptroller Judy Baar Topinka threw her support behind Senate President John Cullerton’s pension plan on Tuesday, calling it the best bet for solving the state’s $100 billion pension crisis.
The Senate’s overwhelming rejection of House Speaker Michael Madigan’s fix for a $97 billion retirement-plan crisis leaves lawmakers heading into their final day in the Capitol on Friday with the state’s most pressing crisis continuing to stare them in the face.
A study by the We Are One Illinois coalition shows that if half of employees and retirees choose to forgo post-career health insurance as part of Senate President John Cullerton’s proposal, the state’s debt to two health insurance programs would be cut in half, by $26 billion.
The Illinois Senate voted Thursday to send a union-supported pension reform bill to the House, leaving lawmakers with two competing proposals for dealing with the nation’s worst state pension crisis just weeks before the Legislature is scheduled to adjourn.
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.
Now that the governor has finally unveiled a plan to tackle the state’s pension crisis, one top Republican is predicting a tough road ahead.