Illinois pension reform

The Governor’s Plan
6:30 pm
Mon November 19, 2012

A Cartoon Snake and Illinois Pensions

Credit Capitol Fax

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.

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Letter from Businesses Angers Workers
2:52 pm
Fri November 16, 2012

Illinois Unions vs CEOs on Pension Reform

Credit Rich Egger

It's class warfare, on the policy front.

A letter from the Civic Committee of the Commercial Club of Chicago shames Illinois lawmakers for not doing anything to address the state’s growing pension debt.

President Ty Fahner said unless there is a major overhaul, the systems will collapse under their own weight.

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Pension Mess Blamed
6:30 pm
Wed August 29, 2012

Illinois Bond Rating Takes a Hit

Rich Egger

Standard & Poor's downgraded Illinois' credit rating Wednesday, citing concerns over the state's inability to address its massively underfunded employee pension plans.

The action was taken less than two weeks after a special session in which Illinois lawmakers failed to reach an agreement on changing the state pension systems. Illinois still ranks 49th among the states, better only than California.

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Playing Politics, Ignoring Reality
10:08 am
Tue August 21, 2012

Tax Expert: Pensions Are Not the Problem for Illinois

Rich Egger

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.

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