Illinois pensions http://news.stlpublicradio.org en Deal Reached To Solve $100 Billion Illinois Pension Crisis http://news.stlpublicradio.org/post/deal-reached-solve-100-billion-illinois-pension-crisis <p><em>Will be updated.</em></p><p><span style="line-height: 1.5;">A spokesman for House Speaker Michael Madigan says legislative leaders have reached a deal to solve the state's $100 billion&nbsp;</span><a href="http://news.stlpublicradio.org/term/illinois-pensions" style="line-height: 1.5;">pension crisis.</a></p><p><span style="line-height: 1.5;">Steve Brown says he was told of the agreement following a leaders meeting Wednesday.</span></p> Wed, 27 Nov 2013 18:35:44 +0000 The Associated Press 31783 at http://news.stlpublicradio.org Deal Reached To Solve $100 Billion Illinois Pension Crisis Ill. Legislative Leaders Sue Over Halted Lawmaker Paychecks http://news.stlpublicradio.org/post/ill-legislative-leaders-sue-over-halted-lawmaker-paychecks <p>The leaders of the Illinois House and Senate are <a href="http://capitolfax.com/VetoComplaint.pdf">filing a lawsuit</a> challenging Gov. Pat Quinn's halting lawmaker pay over the state's pension gridlock.&nbsp;</p><p><span style="line-height: 1.5;">House Speaker Michael Madigan and Senate President John </span>Cullerton<span style="line-height: 1.5;"> called Quinn's action &nbsp;</span><span style="line-height: 1.5;">"purely political and unconstitutional." All three men are Democrats.</span></p> Tue, 30 Jul 2013 20:42:36 +0000 Rachel Lippmann 28672 at http://news.stlpublicradio.org Ill. Legislative Leaders Sue Over Halted Lawmaker Paychecks Governor Quinn Visits Stan Musial Veterans Memorial Bridge http://news.stlpublicradio.org/post/governor-quinn-visits-stan-musial-veterans-memorial-bridge <div><p>On Monday, Illinois Governor Pat Quinn paid a visit to the Stan Musial Veterans Memorial Bridge in East St. Louis.</p><p><span style="line-height: 1.5;">Quinn said the bridge will reduce congestion and pollution and praised the jobs the project has created. He also hopes the project nurtures a positive relationship between Missouri and Illinois.</span></p> Mon, 15 Jul 2013 21:38:27 +0000 Chris McDaniel & Kristi Luther 28253 at http://news.stlpublicradio.org Governor Quinn Visits Stan Musial Veterans Memorial Bridge Ill. Gov. Quinn To Suspend Lawmakers' Pay Over Pension Crisis http://news.stlpublicradio.org/post/ill-gov-quinn-suspend-lawmakers-pay-over-pension-crisis <p><i>Updated 11:55 a.m. with reporting by Illinois Public Radio's Brian Mackey.</i></p><p>Governor Pat Quinn Wednesday used his veto power to eliminate salaries for Illinois legislators. Quinn says until lawmakers fix the state's pension problem, they shouldn't get paid.</p><p><span style="line-height: 1.5;">On Illinois' $100 billion unfunded pension liability Quinn has been setting deadlines for more than a year.</span></p><p>Until now, there haven't been any direct consequences for lawmakers when they've blown each of those deadlines.</p><p>Quinn changed that today in a big way.</p> Wed, 10 Jul 2013 16:04:52 +0000 Illinois Public Radio 28106 at http://news.stlpublicradio.org Ill. Gov. Quinn To Suspend Lawmakers' Pay Over Pension Crisis Quinn Rejects Pension Panel's Invite http://news.stlpublicradio.org/post/quinn-rejects-pension-panels-invite <p>Ill. Gov. Pat Quinn says he won't testify before a bipartisan pension panel Monday in Springfield.</p><div><span style="line-height: 1.5;">The Chicago Democrat told reporters Sunday that staff from his budget office would attend.</span></div><div>&nbsp;</div><p>The committee tasked with finding a solution to the nearly $100 billion problem had invited Quinn to testify.&nbsp;</p> Sun, 07 Jul 2013 17:37:12 +0000 The Associated Press 28023 at http://news.stlpublicradio.org Quinn Rejects Pension Panel's Invite Ill. Assembly Called Back To Work On Pension Fund Shortfall http://news.stlpublicradio.org/post/ill-assembly-called-back-work-pension-fund-shortfall Transcript <p>RENEE MONTAGNE, HOST: <p>NPR's business news starts with pension problems for Illinois.<p>(SOUNDBITE OF MUSIC)<p>MONTAGNE: The credit rating for the state of Illinois has taken another step closer to junk bond status. Illinois already had the lowest credit rating in the nation before it was downgraded again this week by Moody's and Fitch. Fri, 07 Jun 2013 09:34:00 +0000 David Schaper 27158 at http://news.stlpublicradio.org Report: Quarter Of Ill. Spending To Go To Pensions http://news.stlpublicradio.org/post/report-quarter-ill-spending-go-pensions <p>A new report shows nearly a quarter of Illinois' state spending plan for next year will go toward pension payments. The Illinois State House and the State Senate have so far disagreed on the best way to address the worst-funded pension system in the country.</p><p>Laurence Msall is with the Civic Federation - a budget watchdog group. He says the state used to spend about 7 percent of its budget on retirement benefits. Now it's closer to 25 percent.</p><p>"It effectively means that all new revenue, in order to keep up with that growth, has to go into the pension system," Msall said.</p> Mon, 13 May 2013 11:41:30 +0000 WBEZ 26334 at http://news.stlpublicradio.org Report: Quarter Of Ill. Spending To Go To Pensions Illinois House Approves Comprehensive Pension Reform Plan After Years Of Talks http://news.stlpublicradio.org/post/illinois-house-approves-comprehensive-pension-reform-plan-after-years-talks <p></p><p><em>Updated 5:39 p.m. with reporting from Brian Mackey.</em></p><p>The Illinois House approved a massive overhaul of state-employee pension systems on Thursday. It's a development that's been more than a year in the making.</p><p><span style="line-height: 1.5;">Earlier this year, there was a pension measure that had just a single "yes" vote. That makes what happened with this latest proposal significant.</span></p> Thu, 02 May 2013 21:58:24 +0000 Illinois Public Radio 26047 at http://news.stlpublicradio.org Illinois House Approves Comprehensive Pension Reform Plan After Years Of Talks Income Taxes To Cover Millions In Interest For Unpaid Bills In Illinois http://news.stlpublicradio.org/post/income-taxes-cover-millions-interest-unpaid-bills-illinois <p><span style="line-height: 1.5;">Illinois Comptroller Judy </span>Baar<span style="line-height: 1.5;"> </span>Topinka<span style="line-height: 1.5;"> says the ever-long list of vendors waiting on payments from the state means taxpayers have to pay interest and their money is being "flushed away."</span></p> Mon, 15 Apr 2013 14:51:31 +0000 The Associated Press 25437 at http://news.stlpublicradio.org Income Taxes To Cover Millions In Interest For Unpaid Bills In Illinois Ill. Senate Passes Pension Overhaul For Some Teachers http://news.stlpublicradio.org/post/ill-senate-passes-pension-overhaul-some-teachers <p>The Illinois Senate has passed a pension overhaul, but it only affects suburban and downstate teachers. It doesn't touch state employees' and university workers' retirement benefits.</p><p>The measure was approved by the Illinois Senate and forces teachers to choose between taking a reduced pension, or retaining access to state-backed health care upon retirement.</p><p>It took two tries, passing only after Democratic Senator Dave Koehler of Peoria switched his vote.</p> Thu, 21 Mar 2013 14:25:26 +0000 Illinois Public Radio 12633 at http://news.stlpublicradio.org Ill. Senate Passes Pension Overhaul For Some Teachers