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Illinois Pension Reform

Chicago Pension-Cutting Plan Would Harm City Retirees, Neighborhoods

Henry Bayer | Posted 04.08.2014 | Chicago
Henry Bayer

roponents of the drastic Chicago pension cuts sought by the city have threatened a range of doomsday scenarios if their proposal is not enacted. Rather than the thoughtful, informed discussion this matter deserves, this is the equivalent of shouting "Fire!" in a crowded theater.

Unions Sue Over Pension Reform Plan

AP | KERRY LESTER | Posted 01.29.2014 | Chicago

SPRINGFIELD, Ill. (AP) — Some of the largest public labor unions in Illinois filed a long-awaited lawsuit Tuesday challenging the state's new pensio...

GOP Congressional Candidate's Rant Ranked Among Top 'Flip Outs' Ever

Belleville News-Democrat | Mike Fitzgerald | Posted 03.25.2014 | Chicago

Mike Bost, R-Murphysboro, the lone candidate in the GOP primary for the 12th U.S. House District seat, is embracing his May, 30, 2012, rant on the Ill...

Report: State's Budget Gap Will Grow Despite Pension Overhaul

Reuters | Posted 03.24.2014 | Chicago

CHICAGO, Jan 21 (Reuters) - A reform package passed late last year will make improvements to Illinois' woefully underfunded public pension system, b...

2013 a Good Year for House Speaker Michael Madigan?

David Ormsby | Posted 03.02.2014 | Chicago
David Ormsby

Some political observers think that the powerful Illinois House Speaker, Michael Madigan, (D-Chicago) seriously stumbled in 2013. But they would be wr...

Teachers Sue In Effort To Block State's Pension Reform Law

Reuters | Posted 02.27.2014 | Chicago

CHICAGO, Dec 27 (Reuters) - A group of teachers and public school officials filed a class-action lawsuit on Friday in state court se...

Report: City's Pension Situation Both Positive And Negative

Reuters | Posted 02.13.2014 | Chicago

CHICAGO, Dec 13 (Reuters) - The passage last week of reforms to Illinois' public pension system could signal that the legislature may soon address C...

Illinois Pension Overhaul Signed Into Law By Governor

AP | SOPHIA TAREEN | Posted 12.05.2013 | Chicago

CHICAGO (AP) — Gov. Pat Quinn has signed landmark legislation Thursday to reform Illinois' massively-underfunded pension system, though the new law ...

Illinois Pension Fight Will Be Heading To Courts, Unions Vow

AP | SARA BURNETT | Posted 12.04.2013 | Chicago

SPRINGFIELD, Ill. (AP) — The passage of a landmark bill to address Illinois' worst-in-the-nation pension crisis means the yearslong fight over how t...

Illinois Pols Approve Pension Reform Bill

Reuters | Posted 02.02.2014 | Chicago

SPRINGFIELD, Illinois, Dec 3 (Reuters) - The Illinois House and Senate approved a long-awaited measure on Tuesday to reform the nation's worst-funde...

Lawmakers Convening Special Session On Pension Reform

AP | KERRY LESTER and SARA BURNETT | Posted 12.03.2013 | Chicago

SPRINGFIELD, Ill. (AP) — Illinois lawmakers were poised Tuesday to vote on a plan to solve the state's $100 billion pension crisis — a proposal ma...

Illinois Pols Reportedly Reach 'Comprehensive' Pension Deal

Reuters | Posted 01.27.2014 | Chicago

CHICAGO, Nov 27 (Reuters) - Illinois legislative leaders on Wednesday reached a long-elusive deal to reform the state's woefully und...

Detroit and the Tooth Fairy

Terry Savage | Posted 12.30.2013 | Business
Terry Savage

That's the one good thing you can say about what's going on in Detroit: It will hopefully motivate the politicians, employees and unions everywhere else to face reality and not believe the Tooth Fairy will somehow deposit the cash under their pillows.

Pension Ills Loom As Rahm Unveils New Budget Proposal

Reuters | Posted 01.23.2014 | Chicago

By David Greising and Karen Pierog CHICAGO, Oct 22 (Reuters) - When Mayor Rahm Emanuel delivers Chicago's 2014 budget address on Wedne...

Judge: Governor Must Reinstate State Pols' Pay

AP | SARA BURNETT and SOPHIA TAREEN | Posted 11.26.2013 | Chicago

CHICAGO -- A judge ruled Thursday that Illinois Gov. Pat Quinn's decision to halt legislators' pay over the state's unprecedented pension crisis is un...

Rahm Defends $24 Million In CPS School Upgrades Amid Pension Crisis

Posted 09.18.2013 | Chicago

Despite a staggering state and city deficit and ongoing pension crisis, Chicago Mayor Rahm Emanuel is defending his recently-revealed plan to spend $2...

Pension Reform Panel Zeros In On New Cost Saving Plan

Reuters | Posted 10.24.2013 | Chicago

CHICAGO, Aug 23 (Reuters) - Cost of living increases for pension checks would be tied to inflation under a plan being considered by an Illinois legi...

State Pols Will Miss At Least One More Paycheck Amid Pension Inaction

Posted 08.06.2013 | Chicago

Illinois lawmakers hoping for their paychecks to be restored immediately will need continue penny-pinching as a judge on Tuesday set oral arguments in...

My Top Quotes in Illinois

Madison Bondi | Posted 10.01.2013 | Chicago
Madison Bondi

The pension crisis still has no solution, and as each day passes, the Illinois taxpayers are the ones who pay the piper -- literally. It's cost ‪‎taxpayers‬ $21 billion since 2000, and it's only getting worse.

Topinka: I'm Not Paying Any State Lawmakers Amid Pension Mess

Posted 07.25.2013 | Chicago

Illinois Comptroller Judy Baar Topinka on Thursday said she has no choice but to double down on Gov. Pat Quinn's previous ultimatum that state lawmake...

My Top Quotes in Illinois

Madison Bondi | Posted 07.23.2013 | Chicago
Madison Bondi

The subject of political corruption is nothing new to Illinois, but the recent accusations of patronage against House Speaker Michael Madigan made by ...

Flat income tax? Progressive tax? No state income tax? A nationwide overview

Reboot Illinois | Posted 09.18.2013 | Chicago
Reboot Illinois

The 1970 Illinois constitution states that Illinois' state income tax must be applied with one rate paid by all taxpayers. Illinois is one of nine ...

My Top Quotes in Illinois

Madison Bondi | Posted 09.16.2013 | Chicago
Madison Bondi

Last week Governor Pat Quinn fulfilled his threat to lawmakers that if they did not come up with a proposed solution to the pension crisis, they will ...

Is The Governor's Move To Freeze Pols' Pay Constitutionall?

Posted 07.11.2013 | Chicago

A day after Illinois Governor Pat Quinn said he would block state lawmakers from being paid in hopes of spurring them into action on pension reform, s...

Gov. Quinn Suspends State Pols' Pay Over Pension Inaction

AP | SARA BURNETT and SOPHIA TAREEN | Posted 09.09.2013 | Chicago

CHICAGO — Gov. Pat Quinn moved to halt Illinois lawmakers' pay Wednesday, following through on his warning of consequences if they failed to com...