Illinois pensions

Politics
1:14 pm
Sat March 16, 2013

Concerns Raised Over Funding For SIUE Pharmacy School

ellie Flickr

Illinois’s ballooning pension costs coupled with dwindling revenue from professional fees are what’s behind a proposed $1.2 million funding cut for the School of Pharmacy at Southern Illinois University Edwardsville.

Gov. Pat Quinn proposed the cut for SIUE along with schools of pharmacy at Chicago State University and the University of Illinois at Rockford.

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Illinois Pensions
12:18 pm
Mon March 11, 2013

Illinois Settles Federal Securities Fraud Case Over Pensions

An extreme closeup of U.S. currency.
(via Flickr/kevindooley)

Updated 12:41 p.m.

Illinois is settling a federal securities-fraud charge that it misled investors about the health of its pension system.

Gov. Pat Quinn's office said Monday that the state has agreed to settle the Securities and Exchange Commission case. The SEC said in a news release that Illinois admitted no wrongdoing but has made more complete disclosures since 2009.

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Illinois Budget
5:22 pm
Wed March 6, 2013

Quinn Proposes $400M Education Cut, Pension System Payouts In Budget Address

Ill. Gov. Pat Quinn.
(UPI/Bill Greenblatt)

Reporting from Illinois Public Radio's Amanda Vinicky.

In his annual budget address today, Illinois Governor Pat Quinn laid the blame on the General Assembly for forcing him to cut spending on schools and other key state priorities. Quinn says the cost of pensions is "squeezing" Illinois' finances, to the point that he's calling for a $400 million hit to education.

(Read the full text of the governor's prepared remarks

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Budget Address
9:34 am
Mon March 4, 2013

Quinn To Present Annual Budget Address This Week

Credit (UPI/Bill Greenblatt)

Ill. Governor Pat Quinn will present his budget address in Springfield on Wednesday.

The state is reported to have the worst-funded pension system in the country - and has about $97 billion in unfunded obligations.

"Obviously, our pension reform will be part of the address, the need for getting that done right and getting it done now," said Quinn.

Quinn has said the pensions are unsustainable and are taking money away from other key government services.

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Illinois General Assembly
8:58 am
Wed January 9, 2013

New Session Of Ill. General Assembly Begins

Credit Flickr/Jason Dunnivant

Reporting from Amanda Vinicky from Illinois Public Radio.

A new session of the Illinois General Assembly begins today, when candidates who won in November's elections take the oath of office.  The outgoing class of legislators left the incoming one with quite a burden.  

Tuesday night, the previous General Assembly adjourned without doing anything to reduce Illinois' $97 billion pension debt, though there were a few last minute tries.

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Pensions
11:25 am
Tue January 8, 2013

Illinois House Adjourns Assembly Without Pension Vote

Ill. Gov. Pat Quinn.
(via Wikimedia Commons)

Updated  5:30 p.m. Reporting from Illinois Public Radio's Amanda Vinicky and Brian Mackey used in this report.

The Illinois House has just adjourned the 97th General Assembly permanently, without taking a vote on the pension legislation.

The commission proposed earlier in the day by Gov. Quinn (more below) was not addressed.

Members of the House approved it in committee, but several said they were doing so only as a show of respect for the governor, and had serious reservations about whether the idea was constitutional.

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Politics
6:37 am
Tue January 8, 2013

Fate Of Ill. Pension Reform Up In The Air

Credit (via Flickr/jglazer75)

Ill. Gov. Pat Quinn has said repeatedly his top priority is dealing with the state’s pensions - the worst- funded in the country. He’s held countless press conferences and made the argument that pension costs take away money for other state programs.

House Republican Leader Tom Cross says proposals to deal with the pension funds have been around for two years.

"We’ve talked about these to a point where we don’t need to talk any more," said Cross. "We’ve got to do this."

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Politics
7:23 am
Fri January 4, 2013

Ill. Pension Negotiations Continue

Credit (via Flickr/jglazer75)

Negotiations for a complete overhaul of Illinois' underfunded pension systems continue. But the president of the state Senate is again pushing a measure his chamber approved months ago.

Governor Pat Quinn has been adamant that something pass before the General Assembly's current session ends for good on Wednesday.

In May, the Senate passed legislation that reduces state workers' and legislators' own retirement benefits. But the House never took it up.  Senate President John Cullerton says representatives should do so when they return to Springfield on Sunday.

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Illinois Legislature
11:31 am
Wed January 2, 2013

Gay Marriage. Assault Rifle Ban. Pension Reform. All On The Table For Ill. Senate

The interior of the dome at the Illinois State Capitol.
(via Flickr/jglazer75)

The Illinois Senate returns to the Capitol on Wednesday to begin a weeklong legislative session that could take up pension reform, legalizing gay marriage and banning assault rifles.

The 97th General Assembly will finish its work Jan. 9 when a new Legislature is sworn in. That means there are many lame-duck lawmakers not returning who might feel less constrained to vote for contentious issues. The House comes in Sunday.

Gov. Pat Quinn has made it a priority for the assembly to find a solution to the state employee retirement programs that are underfunded by $96 billion.

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Ill. Pensions
3:02 pm
Fri September 14, 2012

Action on Ill. pensions may wait until next year

The interior of the dome of the Illinois Capitol building.
(via Flickr/jglazer75)

The chances of quick action on Illinois' pension problems are growing slimmer.

Gov. Pat Quinn said Friday that he believes a pension overhaul can be passed by the end of the legislative session, which is in January. The Democratic governor wants action "as soon as possible," but his remarks did not suggest that will happen this fall.

His comments come a day after Senate President John Cullerton told the Chicago Tribune he doesn't think a pension overhaul can pass until January, when legislative rules mean passage requires fewer votes.

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