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Drew Peterson is serving a 38-year prison term for the murder of his third wife, Kathleen Savio, in 2004. (Credit: Illinois Department of Corrections)

Drew Peterson Might Lose $79,000 Police Pension

Officials in southwest suburban Bolingbrook could begin an effort to strip former cop Drew Peterson of his pension, following his conviction for killing his third wife, Kathleen Savio.

03/20/2014

Illinois State Capitol

More Lawsuits Filed Challenging State Pension Cuts

The Illinois State Employees Association Retirees and the Retired State Employees Association filed separate class-action lawsuits in Sangamon County Circuit Court on behalf of their members.

01/02/2014

City Hall

What Does State Reform Mean For Chicago’s Pensions?

Now that state lawmakers have taken the tough step of passing state pension reform, what does it mean for Chicago? CBS 2′s Dana Kozlov explains.

12/04/2013

Sheet Metal Workers Local 73 (CBS)

2 Investigators: Pension Fund Demands Overpayments Back, With Interest

Imagine being retired and told you owe tens of thousands of dollars in pension overpayments, plus interest, even though you did nothing wrong. CBS 2′s Pam Zekman reports.

09/27/2013

Gov. Pat Quinn presents his annual budget address to the Illinois General Assembly on March 6, 2013, in Springfield. (Credit: CBS)

Quinn Dares Lawmakers To Override Veto Denying Their Pay

The Governor said there was no reason for lawmakers to go to court to reverse him. They could do it themselves.

07/31/2013

Gov. Pat Quinn (Credit: CBS)

Quinn Warns Lawmakers There Will Be Consequences For Pension Failure

Governor Pat Quinn is making vague threats to lawmakers ahead of Tuesday’s deadline for pension reforms, reports WBBM’s Nancy Harty.

07/07/2013

Illinois State Capitol

Expert: Cullerton, Madigan Can’t Afford To Back Down In Pension Crisis

It’s a big week in Springfield, with lawmakers preparing for a special session on pension reform this Wednesday. It’s likely to be a tense day, with two of the state’s most powerful legislators trying to protect their reputations, reports WBBM’s John Waelti.

06/16/2013

Illinois State Capitol

Illinois Senate Rejects House Pension Reform Plan

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.

05/30/2013

Illinois State Capitol

Illinois Lawmakers Head Into Final Stretch With Many Issues Unresolved

Illinois lawmakers moved forward Monday on a historic expansion of Medicaid and adding more protections for pet owners, but heavy lifting on the state’s most pressing issues — pensions, a budget, expanded gambling, gay marriage and gun control — remained with the clock ticking toward a Friday deadline.

05/27/2013

Illinois State Capitol

Senate Approves Union-Backed Pension Reform

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 problem just weeks before the Legislature is scheduled to adjourn.

05/09/2013

Illinois State Capitol

Conservative Watch Dog: Pensions Could Bankrupt Illinois By 2015

A conservative watch dog group is warning of dark days ahead for the entire state unless Illinois mends it’s financial ways, and soon

04/30/2013

Illinois State Police decal. (CBS)

2 Investigators: State Police Retirees Draw Six-Figure Pensions

Retire at 50 and collect more than $100,000 a year – that’s the plan for a special group of state workers. CBS 2′s Pam Zekman reports.

04/29/2013

Judy Baar Topinka (Photo From Judy Baar Topinka Website)

Topinka: Pension Bill Has Promise

It’s being hailed as one of the most workable solutions to the state’s $95 billion dollar pension mess, and it could get a vote this week.

03/19/2013

Dan Rutherford

Rutherford: Credit Downgrade Could Cost State $95 Million

Standard and Poor’s decision to lower Illinois’ credit from A to A- comes just days ahead of plans to issue $500 million in bonds.

01/26/2013

Gov. Pat Quinn (Credit: CBS)

Quinn Meets With Legislative Leaders Over Pension Reform, But No Deal

Saturday, Governor Pat Quinn and all four legislative leaders met behind closed doors to try and finally hammer out a pension reform deal.

01/05/2013

William Daley (Getty Images file)

Bill Daley Considering Run For Illinois Governor

Former White House chief of staff Bill Daley says he’s “seriously” thinking about running for Illinois governor.

12/20/2012

Laurence Msall

City Failing To Address Exploding Pension Problem, Watchdog Says

The head of a government watchdog group says Chicago aldermen and others aren’t doing enough to help end the city’s growing pension crisis.

10/05/2012

Photo Of $20 And $10 Bills. (AP Photo)

Report: Chicago Ridge Officials Question Ex-Police Chief’s Disability Pay

Officials in Chicago Ridge want to revisit a deal they made with their former police chief over his disability pay.

CBS Chicago–09/18/2012

File Photo (Photo by Chung Sung-Jun/Getty Images)

Inaction On Pension Reform Costing Illinois $12.6 Million A Day: Quinn

The state could be another $1 billion or so in the hole before the Illinois General Assembly does anything. CBS 2 Chief Correspondent Jay Levine reports.

06/21/2012

Mayor Rahm Emanuel

Mayor Emanuel Pushes Pension Reform In Springfield

Mayor Rahm Emanuel went to Springfield on Tuesday to speak to state lawmakers about the need for pension reform at the city and state levels.

CBS Chicago–05/08/2012

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