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Tag: pension
Illinois Gov. Pat Quinn
Gov. Pat Quinn delivered his State of the State Message today to a joint session of the Illinois General Assembly. Governors typically use the State of the State to highlight their priorities and to call on the General Assembly to act on these priorities. Details on implementation – and the resources needed to accomplish these...
A rubber duck bathtub toy
The 97th General Assembly came to a close late in the afternoon Tuesday, Jan. 8, when both the House of Representatives and the Senate adjourned sine die. The members of the 98th General Assembly were inaugurated at noon Wednesday, Jan. 9.
A committee of lawmakers in Springfield endorsed a proposal Monday that would enact sweeping changes to the state’s employee pension system. Under the plan endorsed by the House Personnel and Pensions Committee (on a 6-3 vote) the changes would include: A six-year suspension of the annual 3 percent cost of living increase currently given to retirees....
'Road to Retirement' highway sign
A group of Illinois university professors and administrators has released a plan to reform the retirement system for university employees. An Institute of Government and Public Affairs proposal released Monday recommends letting workers trade a portion of their guaranteed benefits for a lump-sum payment which would go into a self-managed retirement account. “Consideration of a...
THANKS IN ADVANCE! in a comic strip word bubble
Flanked by children yelling “Thanks in Advance” through red megaphones, Illinois Gov. Pat Quinn unveiled a campaign Sunday, Nov. 18, to call attention to the state’s pension funding problems. Quinn said in a press release, “Children have a critical stake in pension reform and that’s why we are here today calling Illinois citizens to action....
Illinois State Capitol building in Springfield. Photo courtesy Illinois Board of Tourism.
In Springfield … The Illinois General Assembly reconvenes from Tuesday, Nov. 27, to Thursday, Nov. 29 and from Tuesday, Dec. 4, to Thursday, Dec. 6, for its Fall Veto Session. We also anticipate that the General Assembly will reconvene in early January 2013 for a “Lame Duck” session before the 98th Illinois General Assembly is inaugurated...
Illinois State Capitol building in Springfield. Photo courtesy Illinois Board of Tourism.
State lawmakers will meet in a special one-day session Friday to discuss potentially dramatic changes to the pension systems that serve state employees. Statehouse watchers say that Speaker of the House Mike Madigan has agreed to call HB1447 for a vote. Approved May 31 by the Illinois Senate on the final day of the spring...
In Washington, D.C. … Congress begins a five-week Summer Recess. Prior to adjourning, Congressional leaders and the White House agreed to a bi-partisan deal that will keep the government funded for six months, through March 31, 2013, at a level consistent with the 2013 level ($1.047 trillion) set forth in the Budget Control Act passed...
Photo of a monthly payment schedule booklet
In Washington, D.C. … Officials of the U.S. Department of Education today unveiled the Obama administration’s college financial aid “shopping sheet,” which was developed jointly with the newly created Consumer Financial Protection Bureau. The shopping sheet, while allowing individual institutions to provide customized information, provides a number of common elements regarding a student’s financial aid...
Photo of a revolving door
Rep. Daniel Biss (D-Evanston) introduced HB 4996  to curb the current practice of Illinois’ public universities rehiring annuitants to work while drawing a pension. This bill passed both chambers of the Illinois General Assembly, and the governor is expected to sign the bill over the summer. Biss, who has been actively involved in various efforts...
Pension reform bills in both the State Senate and House of Representatives failed to come up for a vote before the midnight, May 31, deadline that marks the end of the spring legislative session. “While this has been a productive legislative session, our work is not done for the people of Illinois,” Illinois Gov. Pat...
A stripped-down pension reform package absent a controversial cost-shifting provision that would have transferred responsibility for payments of normal costs of pension benefits from the state to employers (universities, school districts and community colleges) passed the House Personnel and Pension Committee for consideration by the full House Thursday. Pension reform legislation stalled yesterday due to...
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