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Pension Reform

(Credit: CBS)

Council Hiking Chicago Phone Fees To Fund Pension Systems

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.

07/30/2014

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

City Hall

Labor Unions Plan To File Lawsuit Against City Pension Reform Law

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.

06/10/2014

Gov. Pat Quinn (right) officially introduces Paul Vallas (left) as his running mate in the 2014 election. (Credit: CBS)

An Eye For The Tie: Quinn’s Fashion Choice Tips Off Reporter On Pension Bill

The Sun-Times’ Scott Fornek’s eye for fashion led to a bit of a scoop for the veteran political reporter and editor.

06/09/2014

City Hall

Quinn Signs Legislation For Chicago Pension Overhaul

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.

06/09/2014

Gov. Pat Quinn declared a statewide disaster area on Monday, due to the extreme cold, and heavy snow still clogging many roadways. (Credit: CBS)

Quinn Still Won’t Spell Out His Plans For City Pension Reform Legislation

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.

06/06/2014

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

Illinois State Capitol

Judge Halts Illinois Pension Overhaul Until Ruling

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.

05/14/2014

Illinois State Capitol in Springfield

Illinois College Retirement Board OKs Pension Fix

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.

05/09/2014

City Hall

Quinn, Emanuel Still At Odds Over Pension Reform

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.

04/29/2014

Gov. Pat Quinn (Credit: CBS)

Governor: Extending Income Tax Hike Could Help City Pensions

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.

04/28/2014

Aurora Mayor Tom Weisner and more than 20 other Mayor call for reform of police and fire pensions. (Credit: Craig Dellimore)

Suburban And Downstate Mayors Call For Police And Fire Pension Reform

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.

04/21/2014

Photo Of The Quad At The University Of Illinois. (U Of I Photo)

U. Of I. Warns Pension Reform Glitch Could Lead To Mass Retirements

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.

04/18/2014

Illinois House Of Representatives

House, Senate Approve Chicago Pension Reform Plan

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.

04/08/2014

Mayor Emanuel talks education, pensions and other topics. (Credit: Craig Dellimore)

Emanuel Makes Changes To Pension Bill

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.

04/07/2014

City Hall

Lawmakers Fear Blame For Chicago Pension Tax Hike

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.

04/04/2014

Ald. Ed Burke (14th)

Emanuel Pension Plan Clears First Hurdle In Springfield

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.

04/02/2014

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

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

Gov. Quinn Says He’s Worked To ‘Rebuild Illinois’

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.

01/29/2014

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