pension

Dennis Hastert
U.S. House of Representatives

Former Speaker of the House Dennis Hastert has lost his $28,000 annual state pension. He’s serving a 15-month prison sentence for banking violations — crimes he admitted were to pay someone to keep quiet about his sexual abuse of high school students decades ago.

Daniel Biss speaking to group
Office of state Sen. Daniel Biss

The last time the General Assembly tried to make school funding more equitable across Illinois, the legislation got derailed largely due to a fight over teacher pensions. Now pensions have cropped up again, this time in a bipartisan commission working to overhaul the school funding formula.

Nuclear plant workers in Clinton and Quad Cities — not to mention Exelon and ComEd shareholders — got a helping hand from Gov. Bruce Rauner and the Illinois General Assembly. But there was no such luck for the many social service providers, university students and countless others hoping for Illinois' first full budget in a year-and-a-half.

npr.org

It's a rare occurrence of late: A credit rating agency saying something positive about Illinois' finances. But the comment published Tuesday by Moody's Investor Service was tempered.

Illinois could end up having to put an additional half billion dollars into one of its pension funds next year.

As the name suggests, the Teachers Retirement System is the retirement benefits fund for all Illinois public school teachers outside of Chicago.

Amanda Vinicky / NPR Illinois | 91.9 UIS

An overhaul of the retirement benefits Illinois gives state employees, public school teachers and university workers has been the subject of talks between state leaders in recent months. Gov. Bruce Rauner said so Wednesday, but he sounded uncertain as to what will come of it.

IGPA

(As state lawmakers consider another try at cutting pension benefits for government workers, we revisit this interview from 2016 with former Illinois Senate attorney Eric Madiar)

Illinois continues to have the worst funded government pension systems of all 50 states. Legislators have taken several swipes at reducing those costs. But so far they’ve all been batted away by the Illinois Supreme Court.

Chief of Staff Rahm Emanuel
WUIS/Illinois Issues

As Gov. Bruce Rauner continues to battle Democrats in Springfield, he's also battling them in Chicago. Rauner on Sunday upped the rhetoric against the city's mayor.

There was a time that Rauner and Chicago Mayor Rahm Emanuel vacationed together.

But Rauner's most recent comments about Emanuel were anything but friendly.

Amanda Vinicky / NPR | Illinois Public Radio

Republicans are making an offer to get money to social services agencies that have gone three-quarters of the year without any state funding.

Illinois' political stalemate has caused crises all over the state, says Senate Minority Leader Christine Radogno.

Bruce Rauner
Brian Mackey / WUIS

Doing something about Illinois' underfunded retirement systems remains an immediate goal for Gov. Bruce Rauner but despite a loose agreement with a leading Democrat, that plan has stalled.

Springfield may be a desert when it comes to budget deals but it seemed like there was a small oasis -- an agreement between Gov. Rauner and Democratic Senate President John Cullerton on pensions.

Brian Mackey/WUIS

 Gov. Bruce Rauner will give his second annual State of the State address at noon Wednesday. After a year of stalemate, he's expected to make some effort to bridge a bipartisan divide.

In the year since the governor first laid out his agenda for the state, none of it has passed. Rauner has been unequivocal. Despite Democrats' resistance, and pressure on groups demanding a budget, he's not dropping his controversial prescription for a so-called "turnaround."

"We're not going to back down on it, we're not going to give in on it," he said Monday.

Leslie Munger at Inauguration 2015
Brian Mackey / NPR Illinois | 91.9 UIS

Illinois won't make its next pension payment; Comptroller Leslie Munger Wednesday announced she can't, because the state doesn't have the cash.

Amanda Vinicky / NPR Illinois | 91.9 UIS

The U.S. Supreme Court will not get the last word on Illinois’ attempts to cut government pension costs; a 2013 pension law is dead, for good. There'd been a slim possibility the law would have another big day in court.

Il. Supreme Court website - state.il.us/court

Illinois may not be done with the 2013 law reducing state employees’ pensions after all. The Attorney General appears to be readying to appeal to the U.S. Supreme Court.

Amanda Vinicky / WUIS - Illinois Issues

In the midst of a budget stalemate, Illinois Gov. Bruce Rauner says he's re-introducing his five-point agenda, with some changes. The Republican is also putting out a new pension plan.

Amanda Vinicky / NPR Illinois | 91.9 UIS

Credit ratings agencies have had swift reactions to Friday's state Supreme Court decision that found Illinois' 2013 pension law unconstitutional.

Illinois' was expecting to save billions by reducing state workers, teachers' and university employees' retirement benefits. But not anymore, thanks to an unanimous decision by the state's high court tossing the law.

Gov. Pat Quinn has called for the closing of Tamms Correctional Center.
WUIS/Illinois Issues

Some of the main architects of the Illinois law that seeks to save the state money by reducing workers' pensions have begun collecting pensions of their own.

On March 11, the Illinois Supreme Court will hear arguments for and against the pension overhaul signed into law late in 2013 by then-Gov. Pat Quinn. If it succeeds, Quinn, like other retired state employees, will see his the size of his future retirement benefits shrink, as the law does away with compounded cost-of-living increases.

Illinois Issues

It was long a practice of Illinois politicians: Give a buddy a short-term job at the end of his career in order to boost his pension. Gov. Pat Quinn signed a law that's supposed to put an end to that practice. But what about the friend who Quinn just gave a promotion?

The elevation of Jerry Stermer from the governor's budget director to Illinois' comptroller will bring with it a raise of ten thousand dollars for a full year's work.

Gov. Quinn on Friday (12/19) appointed Stermer to temporarily serve as comptroller following Judy Baar Topinka's death.

Harvey Tillis / Illinois Information Service

Although one court has tossed out Illinois’ mega pension overhaul, state leaders are likely to wait on another legal opinion before deciding what to do next.

There’s no question -- the Sangamon County Circuit Court judge’s ruling is meaningful. But Attorney General Lisa Madigan’s office is appealing to the state Supreme Court.

Madigan has said it makes sense for lawmakers to wait to hear from those justices.

Amanda Vinicky

The underfunding of the state's pensions have grabbed headlines the past several years, and finally reached the political tipping point late last year when legislators passed an overhaul of the systems. It's a recent response to a very old problem.

It was Gov. Pat Quinn who signed the law that reduces state workers' and most public school teachers' pensions -- a controversial plan that's at the center of a lawsuit.

ILGA.gov

A new report from Moody's investors service says Illinois still faces "daunting pension challenges" despite a 2013 law intended to curb the state's pension costs. So do its cities. 

The Moody's report lays it out starkly: Illinois' pension burden is significantly higher than other states. And yet Illinois' legal framework gives "very limited" flexibility for dealing with that.

  A judge has blocked Illinois pension overhaul from taking effect next month. It's a temporary victory for government employees who say the law is unconstitutional.

State employees, teachers and university workers were supposed to begin seeing changes to their retirement plans in June. It's part of a sweeping pension overhaul passed late last year.

Amanda Vinicky

A hearing set for this afternoon could determine if some, or even all, of Illinois' new pension law will be suspended.

The pension law is supposed to take effect next month.

The We Are One coalition of unions wants a hold put on the entire law, until a broader lawsuit seeking to have it declared unconstitutional is resolved.

Anders Lindall is a spokesman for AFSCME, the state's largest public employees union. He says once someone retires, that can't be reversed.

Harvey Tillis / Illinois Information Service

Even as the "We Are One" broad coalition of unions seeks to prevent any of the pension law from taking effect next month, a new agreement would prevent parts of it from being implemented.

It mostly affects university and community college employees nearing the end of their careers.

The deal, between the State Universities Annuitants Association and the attorney general, could put a stop to a surge of retirements at Illinois' public universities.

  A major overhaul of Illinois' pensions is now law. Gov. Pat Quinn held a private bill-signing ceremony this afternoon in Chicago. A court challenge seeking to stop it from taking effect is certain.

The new law will cut state workers' and public school teachers' retirement benefits.

It also raises the retirement age; employees younger than 46 will have to work up to five years longer before they can retire. The savings from those changes are intended to rid Illinois of a long-festering budget issue: an unfunded pension liability that's grown to about $100 billion.

WUIS State Week host, Bill Wheelhouse, guests on the latest CapitolView regarding the pension reform passed in Illinois.

Amanda Vinicky

This morning, legislators on a special, bipartisan panel formed to reach a compromise on Illinois' pension situation will once again meet in Springfield. Already, most of the committee's members have signed off on a deal.  Beyond that, the measure's fate is uncertain.

Brian Mackey/WUIS

Illinois legislators will be asked today (12/3) to take what many say could be the most important vote of their careers. They've been called back to Springfield to take up a measure that would drastically alter the state's retirement plans. Doing so would have obvious ramifications for state employees, teachers and university workers whose pensions are at stake. But the impact of a vote is far more widespread. What happens could also affect everything from the state's credit rating and Illinois' next budget, to the 2014 elections. The outcome is anything but certain.

dillard.senategop.org

The four Republicans running for Illinois governor are taking diverging stances on the pension measure that's bringing the General Assembly back to Springfield tomorrow. The package drafted by the legislative leaders would cut state workers', teachers' and university employees' retirement benefits.

Whether there's enough support for the leaders' plan to pass is uncertain, but it will get Sen. Bill Brady's vote.

Details are out on what the leaders of Illinois' General Assembly want to do to the state's retirement systems. They've released an outline of their deal.

After years of debate about what to do about the $100 billion dollars of unfunded liability Illinois has racked up for its pension systems, legislative leaders announced on Wednesday they had agreed to a deal. But they were tight-lipped about what all it involved.

That information has now been spelled out in a one-page overview, a memo passed out to members of the House and Senate.

Amanda Vinicky

  Another legislative session has gone by without a solution in place to bring down the amount Illinois owes the state's retirement systems. Given the clamoring from the governor, business leaders and credit rating agencies for lawmakers to do something about it, legislators mentioned relatively little about pensions before adjourning from their fall veto session last week ... which may well be a sign that something is afoot; there's talk of legislators returning before the year's end to deal with pensions.

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