Pension Bill On Hold Despite Rauner, Cullerton AgreementRepublican Gov. Bruce Rauner wants lawmakers to address Illinois' worst-in-the-nation pension crisis "right away." But despite a rare agreement between Rauner and Democratic Senate President John Cullerton, it's unlikely a bill will advance anytime soon.
Emanuel: Rauner "His Own Worst Enemy" In Tackling State's ProblemsWith their longtime friendship having grown increasingly fractured, Mayor Rahm Emanuel on Friday said Gov. Bruce Rauner should put as much effort into solving problems as he does attacking his political rivals.
Civic Federation Backs Emanuel Property Tax Hike, But Has ConcernsA respected financial watchdog group has thrown its support behind Mayor Rahm Emanuel’s budget plan, but it comes with a warning.
Judge Rules City's 2014 Pension Overhaul UnconstitutionalThe overhaul approved by lawmakers sought to eliminate a $9.4 billion unfunded pension liability by cutting benefits and increasing contributions. It would affect about 61,000 city employees and retirees.
Emanuel To Rauner: Stop 'Personalizing' Budget And Pension Fight With MadiganA day after Gov. Bruce Rauner told Illinois House Speaker Michael Madigan to either fall in line with his agenda or pass a tax hike on his own, Mayor Rahm Emanuel is warning Rauner that doing so was a bad move.
Emanuel: City Coming Up With Plan B For Pensions After High Court RulingMayor Rahm Emanuel said officials at City Hall are working on what they can do to shore up the city’s underfunded public employee pension funds, after an Illinois Supreme Court ruling overturned the state’s pension overhaul.
Illinois Supreme Court Tosses State Pension OverhaulThe decree puts new Republican Gov. Bruce Rauner and Democrats who control the General Assembly back at the starting line in trying to figure out how to wrestle down a $111 billion deficit in what's necessary to cover its state employee retirement obligations.
Illinois Justices Press State's Lawyer On Pension OverhaulIllinois Supreme Court justices asked the state's lawyer to explain Wednesday how the government can seek extraordinary power to reduce public pension benefits in the face of a fiscal crisis when the government itself is culpable for the financial mess.
Rauner Calls For Billions In Budget CutsDelivering his first budget address since winning office last fall, Gov. Bruce Rauner said his plan would end "the irresponsible and reckless practices of the past." He said lawmakers must be willing to make politically unpopular decisions to close a more than $6 billion budget hole next year.
Unions Sue To Stop Chicago Pension OverhaulCurrent and retired city workers and their labor unions have filed a lawsuit arguing a law overhauling Chicago's pension systems is unconstitutional. The lawsuit filed Tuesday in Cook County Circuit Court also asks a judge to stop the law from taking effect Jan. 1.
Illinois Supreme Court Allows Speedy Pension AppealThe case involves the pension fix lawmakers and Gov. Pat Quinn adopted last year. The law cut retirement benefits and made other changes to help fill a $111 billion deficit in five state pensions systems caused by years of state underfunding.
Madigan To Appeal Pension Law Ruling To Supreme Court "Shortly"Illinois Attorney General Lisa Madigan said she expects the state's highest court could take up the state's landmark pension overhaul plan by the end of January, now that a lower court judge has ruled it unconstitutional.