Quinn, Emanuel Still At Odds Over Pension ReformGov. Pat Quinn’s offer to give cities a bigger cut of income tax revenues to help with pension debts without raising property taxes met with a lukewarm reception from the Emanuel administration.
Governor: Extending Income Tax Hike Could Help City PensionsMunicipalities statewide have pushed for legislative help for underfunded pensions. Mayors say costs have risen, pension obligations are crowding out spending for other services and raising property taxes may be the answer. Quinn's against raising property taxes.
Suburban And Downstate Mayors Call For Police And Fire Pension ReformMore than two dozen mayors and village presidents from Chicago’s suburbs and downstate are warning Illinois lawmakers not to forget that they are undergoing a police and fire pension crisis of their own.
U. Of I. Warns Pension Reform Glitch Could Lead To Mass RetirementsThe University of Illinois was warning state lawmakers of a problem with a pension reform plan that the school fears will trigger a crippling “brain drain” as faculty members consider retiring this summer.
House, Senate Approve Chicago Pension Reform PlanThe legislation sponsored by House Speaker Michael Madigan overcame earlier resistance after the Chicago Democrat removed language mentioning the tax increase. Opponents feared they'd be blamed for a Chicago tax increase.
Emanuel Makes Changes To Pension Bill Mayor Rahm Emanuel says he’s working hard to get state lawmakers to approve the pension deal that seems to have stalled in Springfield last week.
Lawmakers Fear Blame For Chicago Pension Tax HikeA fast-tracked plan to overhaul two Chicago city-pension programs slowed in the Illinois House Thursday, as nervous lawmakers said they fear backlash for a massive property-tax increase even if they don't directly approve it.
Emanuel Pension Plan Clears First Hurdle In Springfield Mayor Rahm Emanuel's plan to reform two underfunded employee pension systems quickly took its first step toward approval in the Illinois General Assembly on Wednesday.
Mayor To Seek $250 Million Property Tax Hike To Address Pension DebtMayor Rahm Emanuel has proposed raising property taxes by $250 million over five years as part of a pension reform plan that also would require city workers to pay more toward their pensions.
Chicago Workers, Retirees Head To Springfield To Protest Pension ReformChicago public employees and retirees have been descending on Springfield on Wednesday for a rally to protest the state’s new pension reform law.
Gov. Quinn Says He's Worked To 'Rebuild Illinois'Gov. Pat Quinn focused on ways to create jobs and trumpeted his accomplishments with election-year flair Wednesday in an annual speech that fell on the five-year anniversary of when lawmakers booted his predecessor, now imprisoned ex-Gov. Rod Blagojevich, from office.
Unions Sue To Block State Pension Reform PlanThe lawsuit, which follows others already filed by retirees, argues the pension bill approved by the Legislature and signed by Gov. Pat Quinn more than a month ago violates a clause of the state constitution that says pension benefits may not be cut.
Lawsuit Filed To Block State Pension-Benefit CutsThe long-anticipated legal challenge comes less than a month after Gov. Pat Quinn signed the so-called pension reform into law.
Quinn Signs Pension Reform Plan Into LawThe overhaul, approved by the General Assembly this week after years of delay and inaction, cuts benefits for most employees and retirees. It has a June 1 effective date, but could be delayed by the legal challenges.
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.