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Illinois Pensions

This category contains 11 posts

Rahm Emanuel, Toni Preckwinkle Release Cautious Statements of Support on Quinn Illinois Pension Plan

(Chicago, IL) – April 20, 2012. Chicago Mayor Rahm Emanuel and Cook County Board President Toni Preckwinkle today released cautious statements of support for Governor Pat Quinn’s proposed Illinois pension plan reforms. Continue reading »

Governor Pat Quinn Announces Illinois Pension Reform Plan

(Chicago, IL) – April 20, 2012. Governor Pat Quinn today announced an Illinois pension reform plan that he claims is expected to save taxpayers $65 to $85 billion. Continue reading »

Illinois Pensions: Illinois Mayors Warn of Bankruptcy with no Illinois Police, Fire Pension Changes

(Chicago, IL) — November 17, 2010. Pot holes and even re-election bids had to wait Tuesday for dozens of Illinois mayors, as the local leaders flooded the Illinois Capitol to plead with lawmakers to change the retirement rules for cops and firefighters. Continue reading »

Illinois Pensions: Illinois Legislature to Vote on Pension Borrowing after Election, Senate President John Cullerton Says

(Chicago, IL) — October 15, 2010. The Illinois General Assembly plans to vote a pension borrowing bond bill on November, according to Senate President John Cullerton’s office. Continue reading »

Illinois Budget: Pat Quinn Hints at Special Session

(Springfield, IL) — May 27, 2010. After Senate President John Cullerton (D-Chicago) today adjourned the Senate without passing the $4 billion pension borrowing bill, Governor Pat Quinn shortly afterward issued a statement that said the legislature had not finished its work, hinting at a special session. “Our task is not complete, and there’s more that … Continue reading »

Illinois Pensions: Senator Christine Radogno Wants Changes to Current Illinois State Employee Pension Benefits

(Springfield, IL) — April 19, 2010. Illinois Senate Minority Leader Christine Radogno (R-Lemont) backed changes to the Illinois employee pension system that will yield savings of $220 billion during next 30 years, but wants to put current employee benefits on the chopping block if possible. “I know there’s differing opinions as to whether or not … Continue reading »

Illinois Pensions: Pat Quinn Claims Pension Reforms to Save Illinois $200 Billion; Praises Michael Madigan, John Cullerton

(Chicago, IL) — April 15, 2010. Governor Pat Quinn yesterday finally signed into law a significant public pension reform bill that will save taxpayers billions of dollars while protecting the retirement of state workers. “From the moment I took office, I have worked to overhaul Illinois’ pension system to provide relief to taxpayers while protecting … Continue reading »

Illinois Pensions: “In Praise of Illinois” – Wall Street Journal

(Chicago, IL) — April 8, 2010. Who would have ever thought that Democrats Governor Pat Quinn, House Speaker Michael Madigan (D-Chicago) and Senate President John Cullerton (D-Chicago) might have squeezed from the ultra-conservative Wall Street Journal the headline–”In Praise of Illinois.” But, yep. Last month, Madigan and Cullerton engineered legislative approval of an astounding pension-reform … Continue reading »

Illinois Pensions: Madigan, Cullerton Win Swift, Bi-Partisan Approval of Public Pension Reform Plan to Save Illinois $100 Billion

(Springfield, IL) — March 24, 2010. In less than 12 hours, House Speaker Michael Madigan (D-Chicago) and Senate President John Cullerton (D-Chicago) today bulldozed a massive Illinois pension reform bill–which creates a two-tier public employee retirement system–through the Illinois legislature. That’s legislative light-speed. In the unexpected move, Madigan rolled out the legislation, Senate Bill 1946, … Continue reading »

Illinois Pensions: State Sentor Pamela Althoff Says Illinois Pension Solution “Long-Term”

(Springfield, IL) — March 3, 2010. As Illinois lawmakers weigh how to fill in a budget deficit as deep as $12 billion, they may also consider changes to how retirement payments are made to state employees. For years the state has underfunded its public employee pension systems. Recent estimates have put the debt owed to … Continue reading »

Illinois Pensions: Senate President John Cullerton Backs Changes to Illinois Pension System

(Chicago, IL) – February 22, 2010. Senate President John Cullerton (D-Chicago) is willing to change Illinois ghastly underfunded pension to keep the retirement tub from sinking further. Give Cullerton two-points for courage. Crain’s Chicago columnist Greg Hinz snared that precious pension morsel from Cullerton earlier today. The president of the Illinois Senate says he’s interested … Continue reading »

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