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Illinois Pensions

This tag is associated with 8 posts

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 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 Budget: Senator Larry Bomke Expects Speaker Michael Madigan to Push New Budget Through House Without GOP

(Springfield, IL) — May 19, 2010. Republican lawmakers in the Springfield area are lamenting that the Illinois General Assembly could pass a version of the Illinois state budget and conclude the legislative session by the end of this month. With strong majorities in both the Illinois House and Senate, Democratic lawmakers can push through a … 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: 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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