pension

Gov. Pat Quinn
Brian Mackey/WUIS

Governor Pat Quinn went months without meeting with members of the special legislative committee formed to draft a new pension plan, but this month he has begun to reach out.

It was Quinn's idea to form a conference committee, to bridge differences between the House and Senate over how to reduce Illinois' $100 billion pension debt.

But the ten members of that panel say other than phone calls welcoming them to the committee, he was absent from their talks from June on, leading to criticisms like this, from Rep. Jil Tracy, a Republican from Quincy.

Cullerton Says Pension Issue Could Bypass Committee

Oct 15, 2013
John Cullerton
Illinois Senate

Illinois Senate President John Cullerton says the state's pension problem could be addressed in the fall legislative session even if a committee working on it remains split.  
The Chicago Democrat tells The Associated Press in an interview that lawmakers could bypass the committee and call a vote through another legislative route.  
An AP survey found that five of the pension committee's 10 members still had concerns with a proposed $138 billion savings plan. The Legislature cannot consider a committee proposal unless it is signed by six members.  

Amanda Vinicky

As he runs for re-election, Gov. Pat Quinn is staking a lot on getting something done with pensions. He making a show of asking the state Supreme Court let him cancel legislators' salaries until it's done, and he says he won't deal with other major issues before the General Assembly -- like using tax credits to keep ADM headquartered in Illinois -- until there's what he calls a "comprehensive pension solution." But it's hard to tell just what that means. Most of the ten legislators he tasked with crafting that solution don't even seem to know. They say he's been largely absent ...

Mike Zalewski
MikeZalewski.com

With an eye toward reaching an agreement in time for the upcoming veto session, legislators on a special pension committee met Friday in Chicago. The conversations focused on giving state employees and teachers a new style of retirement plan.

Gov. Pat Quinn has asked the Illinois Supreme Court to hear his appeal of a ruling that his veto of money for lawmaker salaries was unconstitutional.  
Attorneys for Quinn filed a motion with the court Wednesday. They say the case deserves an ``expeditious and conclusive'' ruling by the state's highest court.  
Quinn vetoed money for paychecks in July because he was angry legislators hadn't addressed Illinois' nearly $100 billion pension crisis.  
House Speaker Michael Madigan and Senate President John Cullerton sued, saying his action was unconstitutional.  

Reps. Darlene Senger (left) and Elaine Nekritz discuss pensions in a Statehouse conference room.
Brian Mackey/WUIS

It is approaching four months since the Illinois General Assembly adjourned its spring session. Lawmakers have missed two paychecks since the governor decided to punish them for not passing a pension overhaul. And a special committee has been negotiating over how to solve the pension problem for more than 12 weeks. Amanda Vinicky checks in with members of that committee for a progress report.
 

ILGA.gov

Legislators writing an overhaul of the state's pension systems could be nearing the end of their work.

Feedback's been plentiful since late last month, when a draft of a pension plan drawn up by a bipartisan legislative committee was leaked. Unions hate it - saying it overreaches in cutting retirement benefits. Business groups say it doesn't go far enough to save the state money. Not to mention complaints, including from the governor, that the committee is taking too long.

Amanda Vinicky

Illinois' largest public pension fund hit a major low in 2012, its rate of return was less than one percent.  But an early analysis shows the last fiscal year was better than expected. The success isn’t expected to make much of a dent in Illinois’ nearly $100 billion dollar pension liability, however, which lawmakers thus far have failed to tackle.   

Sen. Kwame Raoul
Amanda Vinicky/WUIS

  Governor Pat Quinn already has one primary challenger, but there's talk he may get more. 

A lot of politicians are heading to the capital city this week; it's the State Fair, and a time for annual political meetings and rallies.

Democratic Sen. Kwame Raoul was driving down from Chicago Tuesday afternoon, in time for his fundraiser last night at a Springfield bar.

Dana Heupel
WUIS/Illinois Issues

Democratic lawmakers from Wisconsin and Indiana who saw Illinois as a safe haven in their battles to protect public employee rights might be surprised to learn that top Democrats here may accede to a Republican effort to force pension reductions on current public employees.

Total liability $126.5 billion
WUIS/Illinois Issues

To say Illinois faces a hole in funding its public employee pension systems is like saying the Grand Canyon is an impressive ravine or the Mindanao Trench a good-size gully.

Indeed, “hole” is hardly an appropriate word. “Abyss” and “chasm” come readily to mind, with “bottomless pit” not too far away.

Imagine getting a home equity loan for $100,000, spending $27,000 of it on a new car and investing the rest — then counting on the interest earned to cover the interest paid, as well as the cost of the car. That’s the essence of Gov. Rod Blagojevich’s $10 billion pension bonding plan, which became law in April.

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