Retirement Benefits

Illinois House Floor

House Passes Pared-Down Pension Reform Plan

Illinois lawmakers from both parties celebrated a possible breakthrough Thursday in their struggle to solve the multibillion-dollar pension crisis after voting to reduce and delay cost-of-living increases in state employees’ retirement pay — a step the House Republican leader heralded as “the meat and potatoes of pension reform.”


Gov. Pat Quinn (Credit: CBS)

Gov. Quinn Signs Law To End Pension ‘Double-Dipping’

Gov. Pat Quinn has signed into law pension reforms aimed at fixing some loopholes in the system.


State Senate President John Cullerton

Cullerton: Time To Tax Retirement Benefits

People might think their retirement benefits are safe from taxes, but that may not be the case for long.

CBS Chicago–03/08/2011