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Illinois Pension Funding

Two very different approaches to solving Illinois' pension crisis

Reboot Illinois | Posted 07.24.2013 | Chicago
Reboot Illinois

In the final two weeks of the 2013 spring legislative session, lawmakers are weighing two bills that address what is arguably the greatest financial crisis in state history.

Pension Showdown Ahead As Senate OKs Union-Backed Plan

Reuters | Posted 07.09.2013 | Chicago

SPRINGFIELD, Ill., May 9 (Reuters) - The Illinois Senate on Thursday passed a labor union-backed bill to reduce the state's nearly $100 billion unfu...

Pension Reform Showdown Looms As Union-Backed Plan Advances

Reuters | Posted 07.09.2013 | Chicago

SPRINGFIELD, Ill., May 8 (Reuters) - An Illinois Senate committee on Wednesday passed a union-backed plan to reduce the state's nearly $100 billion ...

Constitutional Concerns Cloud Future Of Pension Reform Bill

Reuters | Posted 07.05.2013 | Chicago

By Karen Pierog CHICAGO, May 5 (Reuters) - Now that the Illinois House of Representatives has passed a plan to repair a state pension ...

Sweeping Pension Fix OKed In Narrow House Vote

Reuters | Posted 07.02.2013 | Chicago

By JoAnne von Alroth SPRINGFIELD, Ill., May 2, (Reuters) - The Illinois House of Representatives in a 62 to 51 vote on Thursday passed...

Pension Reform Plans Emerge, Compete In State Legislature

Reuters | Posted 07.02.2013 | Chicago

By Karen Pierog CHICAGO, May 1 (Reuters) - The Illinois Senate president and labor leaders on Wednesday began pushing a new plan to re...

Pension Fix Faces Political, Legal Hurdles

Reuters | Posted 06.08.2013 | Chicago

By Karen Pierog CHICAGO, April 7 (Reuters) - Illinois lawmakers begin a two-month push on Monday to enact major pension reform, under ...

House Takes Baby Steps To Rein In Public Pension Costs

Reuters | Posted 05.15.2013 | Chicago

SPRINGFIELD, Ill., March 14 (Reuters) - The Illinois House of Representatives continued its piecemeal approach to reforming the state's sagging publ...

State House OKs Pension Payment Cap, Avoids Bigger Reforms

Reuters | Posted 05.08.2013 | Chicago

By Renita Young SPRINGFIELD, Ill., March 7 (Reuters) - The Illinois House of Representatives on Thursday took the first small step of ...

Illinois House Votes Down Madigan's Pension Reform Plan

Reuters | Posted 05.01.2013 | Chicago

By Joanne von Alroth SPRINGFIELD, Ill., Feb 28 (Reuters) - The Illinois House of Representatives on Thursday dealt a setback to effort...

Gov. Quinn Urges Action, Offers No Plan On Pension Fix

Reuters | Posted 04.08.2013 | Chicago

By Joanne von Alroth SPRINGFIELD, Ill., Feb 6 (Reuters) - Governor Pat Quinn said on Wednesday that Illinois is at a "critical junctur...

State Of The State's Pensions? 'Horribly Embarrassing'

Reuters | Posted 04.08.2013 | Chicago

By Karen Pierog CHICAGO, Feb 5 (Reuters) - Illinois Governor Pat Quinn, already the most unpopular governor in the nation, has his wor...

Lawmakers Propose Pension Fix, Unions Threaten Suit

Reuters | Posted 03.09.2013 | Chicago

By Joanne von Alroth SPRINGFIELD, Ill, Jan 6 (Reuters) - Illinois lawmakers unveiled a plan Sunday they believe can fix the state's hu...

State Lawmakers Pursue Deal To Fix Pension Crisis

Reuters | Posted 03.03.2013 | Chicago

By Karen Pierog CHICAGO, Dec 31 (Reuters) - Illinois lawmakers on Wednesday resume efforts to fix the state's woefully underfunded sta...

State Lawmakers Unveil New Pension Fix Plan

Reuters | Posted 02.04.2013 | Chicago

By Joanne von Alroth SPRINGFIELD, Ill, Dec 5 (Reuters) - A bipartisan group of Illinois lawmakers on Wednesday unveiled a plan to fix ...

WATCH: Meet 'Squeezy,' Illinois' Pension Villain -- Really

Posted 11.19.2012 | Chicago

As Illinois' pile of unpaid bills continues to mount, Gov. Pat Quinn on Sunday introduced the "grassroots" campaign he hopes will help build support f...

State's Credit Rating Lowered, Again, By S&P

Reuters | Posted 10.29.2012 | Chicago

* S&P cites inaction on pension fix for downgrade * Governor seeks meeting soon with lawmakers on pensions * Treasurer d...

Gov. Quinn Urges Delayed Retirement, Upped Worker Contributions

Posted 04.21.2012 | Chicago

Illinois Gov. Pat Quinn on Friday introduced his plan to address the state's growing pension crisis by cutting costs and -- the governor proposed -- d...

Ramping Up for Pension Legislation

Robert Reed | Posted 04.07.2012 | Chicago
Robert Reed

This year, we'll see how determined our leaders are as they launch various efforts to comprehensively fix a benefit system that's teetering on financial ruin and may ultimately plummet the state government into insolvency.

Why An Increase In Higher Education Funding Won't Help Students

Posted 03.27.2012 | Chicago

Illinois is increasing higher education spending by 12 percent this year, but that money won't benefit in-state students. Illinois State University re...

State House Democrats Push For Softer Pension Reform Bill

Posted 12.13.2011 | Chicago

Citing constitutional concerns, several Illinois Democrats are pushing for a softer version of previously-approved state pension reform legislation --...

New TV Spot: 'Illinois Is Broke,' Children Will Pay

Posted 12.19.2011 | Chicago

A new television spot aimed at pension reform for state employees made its debut Wednesday. The spot, sponsored by the Civic Committee of the Comme...

Without Reforms, Chicago's Pension Funds Will Fail

R. Eden Martin | Posted 05.25.2011 | Chicago
R. Eden Martin

An increase in City pension funding in the range of hundreds of millions of dollars would threaten even more serious budget imbalances, or tax increases, or both.

State Budget Shortfall Pegged At $12.8 Billion

Progress Illinois | Angela Caputo | Posted 05.25.2011 | Chicago

If there's one thing observers of Illinois politics can agree on, it's that next year's state budget deficit is going to be extraordinary. Not only ar...

Almost 4,000 Retired State Employees Draw Pensions Over $100,000

Chicago Sun-Times | TIM NOVAK, ART GOLAB AND CHRIS FUSCO | Posted 05.25.2011 | Chicago

Nearly 4,000 retired government workers have pensions that pay them at least $100,000 a year....