Aldermen have approved a plan to hike the city’s monthly 911 surcharge on phone bills by 56 percent to help shore up the city’s pension funds, and avoid a property tax hike before next year’s elections.
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.
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.
The Sun-Times’ Scott Fornek’s eye for fashion led to a bit of a scoop for the veteran political reporter and editor.
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.
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.
A Sangamon County judge stopped Illinois’ state pension overhaul law from taking effect Wednesday, issuing a stay on the law until the court can rule on its constitutionality.
The board of the State Universities Retirement System voted Thursday to accept an interpretation of last year’s state-pension reform law that says the law won’t inadvertently cut university retirees’ pensions.
Gov. Pat Quinn’s offer to give cities a bigger cut of income tax revenues to help with pension debts without raising property taxes met with a lukewarm reception from the Emanuel administration.
Municipalities statewide have pushed for legislative help for underfunded pensions. Mayors say costs have risen, pension obligations are crowding out spending for other services and raising property taxes may be the answer. Quinn’s against raising property taxes.
More than two dozen mayors and village presidents from Chicago’s suburbs and downstate are warning Illinois lawmakers not to forget that they are undergoing a police and fire pension crisis of their own.
The University of Illinois was warning state lawmakers of a problem with a pension reform plan that the school fears will trigger a crippling “brain drain” as faculty members consider retiring this summer.
The legislation sponsored by House Speaker Michael Madigan overcame earlier resistance after the Chicago Democrat removed language mentioning the tax increase. Opponents feared they’d be blamed for a Chicago tax increase.
Mayor Rahm Emanuel says he’s working hard to get state lawmakers to approve the pension deal that seems to have stalled in Springfield last week.
A fast-tracked plan to overhaul two Chicago city-pension programs slowed in the Illinois House Thursday, as nervous lawmakers said they fear backlash for a massive property-tax increase even if they don’t directly approve it.
Mayor Rahm Emanuel’s plan to reform two underfunded employee pension systems quickly took its first step toward approval in the Illinois General Assembly on Wednesday.
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.
Chicago public employees and retirees have been descending on Springfield on Wednesday for a rally to protest the state’s new pension reform law.
Gov. Pat Quinn focused on ways to create jobs and trumpeted his accomplishments with election-year flair Wednesday in an annual speech that fell on the five-year anniversary of when lawmakers booted his predecessor, now imprisoned ex-Gov. Rod Blagojevich, from office.