Tagged: Pension reform

Governor Pat Quinn has called lawmakers back to Springfield for a one-day special session to reform the state's pension systems.

But so far he doesn't have a plan beyond that.

"We've had proposals this year, we've had a working group this year, we've had discussions and negotiations this year," Quinn said. 

It's doubtful Illinois' pension crisis will be resolved soon.

Legislative leaders and the governor met Thursday, June 21 to discuss whether the state or local school districts should pay retirement costs for downstate and suburban teachers. The state picks up the tab now, but it doesn't pay for Chicago teachers' retirement benefits.

After the meeting, top lawmakers said they're going to spend five weeks studying school funding equality. Then they'll work on what to do about Illinois' hugely underfunded government pensions.

Illinois lawmakers are heading into the home stretch of their 2012 session. But they still need to approve a budget before they can adjourn.

They've been working for months to try figuring out how  they can cut two of the state's biggest expenses:  pensions  and Medicaid.

Some lawmakers are not pleased with the pace.

"Well, why would you be concerned? We've got two and a half weeks left.  We've got all the time in the world to fix our problems here in the state of Illinois,” remarked Representative Joe Lyons (D-Chicago).

Longtime state employees in Illinois would no longer be able get free health insurance  when they retire under legislation (SB 1313) approved by the Illinois House on May 9.

The  vote is part of a push to cut pension benefits for government retirees.  The governor, House speaker and other politicians want to save money  by cutting pensions, health care and other costs.