pensions

Keokuk Mayor Wants State Help w/ Pensions

Jason Parrott — Fri, 01 Mar 2013 05:00:31 +0000

One southeast Iowa mayor knows how Iowa can spend some of its “extra” money.

Pinnacle Employees Authorize Strike

Jason Parrott — Tue, 08 Jan 2013 05:00:08 +0000

Employees of a Fort Madison industry say they are taking a stand to protect their futures.

A Cartoon Snake and Illinois Pensions

Rich Egger — Tue, 20 Nov 2012 00:30:55 +0000

Illinois Governor Pat Quinn has finally unveiled his Internet campaign that is supposed to spur legislators to overhaul the state’s retirement systems.

Quinn is trying to use social media to educate voters about the "squeeze" pension costs are putting on other state spending, such as education.

Constitutional Amendment Won’t Fix Pension System

Bill Knight — Wed, 24 Oct 2012 16:01:00 +0000

Most Illinois voters might be surprised by their ballot when they vote next month – but they’ll be shocked by the consequences if it passes. Proposed Constitutional Amendment 49 “adding Sec. 5.1 to Article XIII,” claims to address the state’s pension obligations.

First, given the shortfall of more than $80 billion in Illinois’ five pension plans, voters should ask how a new Sec. 5.1 would deal with the money the state owes those pensions. It does nothing.

Michael Madigan on Illinois GOP & Pension System

Rich Egger — Thu, 06 Sep 2012 20:59:17 +0000

Illinois Republicans had a theme when they met in Tampa for the Republican National Convention: Fire Madigan.

It’s more than a slogan for the state GOP. It’s an all-out marketing campaign against the Illinois House speaker. It includes t-shirts, buttons and even a baby bib that read “Fire Madigan.”

The GOP blames Michael Madigan for allowing the state to slide into a fiscal mess. But Madigan said it’s Republicans who are unwilling to do what he called the "heavy lifting."

The Roots of the Illinois Pension Crisis

Bill Knight — Wed, 05 Sep 2012 16:51:37 +0000

Most Illinoisans seem torn between anger about state pensioners supposedly getting rich off taxpayers, and concern about state-worker neighbors caught between incompetent lawmakers and greedy credit agencies in cahoots with big banks. The real debate should be one timid types in Springfield (or Washington) avoid: What do citizens want government to do and how will it be funded?

Tax Expert: Pensions Are Not the Problem for Illinois

Rich Egger — Tue, 21 Aug 2012 15:08:00 +0000

Conservative estimates indicate Illinois is $83 billion short of what it has promised state workers in retirement benefits. But Ralph Martire of the Center for Tax and Budget Accountability said said there is nothing inherently wrong with the state's pension plans.

He said the problem is that for 40 years the state “borrowed like a credit card” from pensions to pay for other services. But instead of acknowledging that, state leaders and lawmakers have played politics with the issue.

Pension Reform Goes Nowhere; Lawmakers Go Home

Rich Egger — Fri, 17 Aug 2012 23:01:20 +0000

No pension legislation moved through the Illinois General Assembly during Friday's special legislative session.

Democrats pushed along a plan to cut pension benefits for state elected politicians and no one else, but opponents -- including Representative Darlene Senger (R-Naperville) -- called the proposal disingenuous.

"I am not going to vote for this. I think it's a farce," said Senger.

"I think we're basically coming out and saying we're doing something and we're absolutely not, and it's a real disservice for those who live in this state."

Quinn: Funding Decline If Higher Ed Pensions Not Changed

Rich Egger — Tue, 14 Aug 2012 22:46:50 +0000

Illinois Governor Pat Quinn's office is touting a one-page analysis claiming higher education will suffer if lawmakers fail to address Illinois' pension problem.

In the so-called study, Quinn's budget office estimates that state funding of higher education will steadily decline over the next five years.

The projections show more money would be needed to pay for university and community college employees' pensions, which would leave less for schools and scholarships for needy students.

Illinois Pension Debt Hurts Other State Services

Rich Egger — Sun, 08 Jul 2012 19:51:03 +0000

15% of the state budget in Illinois this year is going toward pensions. That means there's less to spend on other needs.