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Public Pensions

Illinois State Capitol

Pension Chaos A ‘Negative’ For Illinois Credit Rating

Illinois edged closer to having its worst-in-the-nation credit rating lowered even further as a rating agency declared Thursday that failure to address massive pension problems is a “credit negative” for the state.

CBS Chicago–08/23/2012

Republican Wisconsin Gov. Scott Walker (left) is up against Democratic Milwaukee Mayor Tom Barrett (right) in his bid to avoid being recalled from office, in the wake of his successful push to essentially eliminate union bargaining rights for government workers in Wisconsin. (Credit: Chip Somodevilla/Getty Images and Jewel Samad/AFP/Getty)

Illinois Democrats, Republicans Look To Impact Walker Recall Election In Wisconsin

A local political expert says the fight in Wisconsin over whether to recall Gov. Scott Walker is an unfortunate event for both sides in the political battle.

CBS Chicago–06/04/2012

Illinois State Capitol

Madigan Drops Effort To Shift Teacher Pension Costs To Local Districts

Prospects for pension reform in Illinois improved measurably late Wednesday night, when House Speaker Mike Madigan dropped his proposal to make public schools and state universities pay retirement costs for their employees, rather than the state.

05/30/2012

Illinois State Capitol

Senate Dems’ Budget Plan Advances In Springfield

It’s unlikely to be the final budget, but the Senate Democratic budget proposal is moving through the legislature.

CBS Chicago–05/22/2012

Gov. Pat Quinn speaks to the City Club of Chicago. (Credit: CBS)

Quinn Urges Business Leaders To Help Push For Medicaid, Pension Reforms

Gov. Pat Quinn is enlisting the support of Chicago’s business community to sell his Medicaid and pension reform plans to state lawmakers before the Legislature adjourns at the end of this month.

CBS Chicago–05/14/2012

Chicago Mayor Rahm Emanuel and the mayors of 30 other cities in Illinois gathered on May 10, 2012, to discuss the need to reform public pension systems for police officers and firefighters. (Credit: CBS)

Emanuel Gathers 30 Illinois Mayors To Discuss Pension Reform

Mayor Rahm Emanuel rounded up mayors from 30 other cities in Illinois on Thursday to build support for pension changes they say are needed to keep Illinois municipalities out of bankruptcy.

CBS Chicago–05/10/2012

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

Gov. Pat Quinn and Mayor Rahm Emanuel attend a forum to discuss financial issues facing city and state government, hosted by the Chicago Tribune. (Credit: CBS)

Emanuel, Quinn Call For Major Pension Reform

At a forum hosted by the Chicago Tribune on Wednesday, Mayor Rahm Emanuel and Gov. Pat Quinn agreed the ticking time bomb of underfunded public employee pensions is threatening to explode – or implode, as the governor put it.

CBS Chicago–04/04/2012

Laurence Msall

City Pension Crisis Called ‘Ticking Time Bomb’

Yet another warning has been issued about Chicago’s looming public pension crisis.

WBBM Newsradio–02/10/2011