Teachers Union Fears Massive Layoffs Due To School Closings, Pension CostsWith 49 elementary schools set to close this summer, and the district facing an additional $412 million in pension costs, the Chicago Teachers Union estimated hundreds – if not thousands – of teachers could be laid off to reduce district spending.
Schools Worry About Covering Teacher Pension CostsPublic school administrators told lawmakers Thursday that some local districts would have to raise property taxes if legislators vote to have them cover the cost of teacher pensions.
Emanuel Vows Full-Court Press On Pension ReformFaced with an employee pension crisis that could become his biggest challenge, Chicago Mayor Rahm Emanuel said Thursday he is putting his full force behind getting lawmakers in Springfield to achieve an overhaul of the state's pension systems.
Governor, Legislative Leaders Still Divided On Pension ReformGov. Pat Quinn and the state's four legislative leaders remained split on how to fix the state's severely underfunded public pension systems, though the governor did signal a shift in philosophy regarding teacher pensions.
Chances For Pension Reform By Midnight Deadline Appear SlimThe chances of making major reforms to the state's public pension systems appear to be dead in Springfield, at least for now.
Madigan Drops Effort To Shift Teacher Pension Costs To Local DistrictsProspects 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.
Big Raises Mean Big Pension Penalties At Suburban SchoolsSuburban school districts are pushing back hard against a 2005 state law that was meant to rein in Illinois' skyrocketing pension costs.
Conservative Group Presents Alternative State Budget PlanA conservative think tank has proposed an alternative state budget that would cut wages for state employees by 10 percent; require retired workers to pay for their own health care premiums; and force local school districts to fund teacher pensions, instead of the state.