John Cullerton

Pensions
5:45 pm
Tue May 21, 2013

House: Senate Plan Only Knocks 5-Percent Off Pension Debt

Rep. Elaine Nekritz (D-Northbrook), left, and Rep. Darlene Senger (R-Naperville) say an analysis shows the Senate's pension bill saves about half of what was originally projected.
Credit Amanda Vinicky

A state pension overhaul backed by government employee unions may save only half of what advocates had promised.  That underscores an ongoing battle between the House and Senate over pensions, with only ten days left in the legislative session.  

 

There's general agreement on this much: that Illinois' public pension systems have $100 billion dollars in unfunded liabilities.  That's a fancy word that basically means "debt."

It's a big number that's getting Illinois in trouble with bond houses and eating into the state's budget.

Read more
Pensions
7:00 am
Thu May 9, 2013

Labor's Pension Deal: Best Bet Or Too Good To Be True?

The Illinois Senate is expected to vote Thursday on the latest proposal to fix the state's drastically underfunded pension systems. In what's become a multi-year pension debate, many aspects of the plan have been put forth before. But it has one element that makes it unique.

Read more
Passes 62-51
7:09 pm
Thu May 2, 2013

Illinois House Approves Pension Overhaul

The Illinois House of Representatives on Thursday approved a massive overhaul of state pensions. It's the first time the House has passed such a plan after more than a year of negotiating and many failed attempts.

Its also the first time Democratic House Speaker Michael Madigan, D-Chicago, put his full support behind a specific proposal.

Read more
Statehouse Bureau
6:27 am
Thu May 2, 2013

Democratic Leaders Backing Opposing Pension Plans

Union leaders testify against House Speaker Michael Madigan's pension plan in a House committee Wednesday, as Madigan looks on behind them.
Credit Amanda Vinicky

The Illinois House is poised to vote Thursday on an overhaul of the state's pension systems. The plan easily advanced out of a House committee Wednesday morning. But the Senate's working on different method. 

Wednesday began with a widespread feeling that after more than a year of failed attempts to reduce the state's pension debt, House Speaker Michael Madigan's proposal might be it. 

Read more
Pensions
11:56 am
Wed May 1, 2013

Madigan Pension Overhaul Headed to House Floor

House Speaker Michael Madigan (D-Chicago)

The Illinois House is poised to vote Thursday on an overhaul of the state's pension systems. It would reduce state workers', teachers', and university employees' future retirement benefits. The plan easily advanced out of a House committee Wednesday morning. 

There's a feeling in the capitol that after countless attempts to reduce the state's pension debt, this may be it. Insiders say it's significant that the plan's sponsored by House Speaker Michael Madigan — who rarely takes action without having support locked up. 

Read more
Illinois Issues
12:00 am
Tue February 1, 2011

A Taxing Time: Even After the Passage of the Income Tax Increase, Lawmakers Have Plenty Left to Do

Senate President John Cullerton
Credit WUIS/Illinois Issues

Although legislators passed a tax increase in the last day of the lame duck session, they allowed other components in an overall budget and reform plan — some of which would have expedited long overdue payments to vendors, schools and social service providers — to fall apart. 

As the members of the 97th General Assembly embark on a new two-year legislative session, piecing together some the leftover parts of that plan will likely be their first order of business.

Read more

Pages