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Tag: pension
State Pension & Budget Update
After much discussion, it appears that lawmakers will this week take up in earnest the issue of changes to the pension system for state employees. Currently, it appears that the language in HB149 is the strategy that lawmakers are looking to as they consider the issue. A quick summary of the three-tiered system under consideration...
Seal of the State of Illinois
NIU President John G. Peters indicated in his March 24 campus update that “it is difficult to predict the precise course of this spring’s budget debate” and that “what happens in Springfield during the next 60 days will be of critical importance to every employee and annuitant at Northern Illinois University.” His message to be...
NIU President John G. Peters
NIU President John G. Peters today addressed the NIU Board of Trustees regarding the state of budget negotiations in Springfield, and talk of altering pension and insurance programs for current employees and annuitants. His remarks were summarized in an e-mail to the campus community, which is included below. Dear Colleague, NIU recently concluded testimony before...
Every two years, with the January swearing-in of a newly elected Illinois House of Representatives, the legislature starts fresh. All bills and legislative proposals that were not enacted by that point are rendered null and void when the new General Assembly is convened.  The last assembly, the 96th in the state’s history, introduced more than 13,000...
State Pension & Budget Update
Every budget season in Springfield is filled with uncertainty. This one promises to be more confusing than most, however, as lawmakers explore sweeping changes in state pensions while they struggle to balance the books. No doubt, rumors will circulate. People will have questions they want answered. In an effort to provide continuous and updated information, and...
Seal of the State of Illinois
Talk of budget cuts, borrowing, deficits, tax increases and pensions have dominated conversation throughout the halls of the Illinois Capitol this year.  Legislators and staffers have debated whether the budget cuts actually cut the budget or whether they merely act as a substitute for the absence of federal funding.  The income tax hike is real...
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The latest news regarding pension and budget issues is now available via Twitter feed. “Few topics will be more important to current and former NIU employees this spring than discussions in Springfield that could dramatically alter the way the state administers pensions and health care for both groups,” NIU President John Peters said. Just this...
Photo of Social Security card
Human Resource Services is alerting NIU employees to a Wednesday, Feb. 16, webinar on “How Some Public Employee or Teacher Pensions May Affect Social Security Benefits.” The Social Security Administration will host the 1 p.m. webinar on the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO). This webinar is of potential interest to NIU faculty and staff because...
State Pension & Budget Update
As work begins in Springfield on the FY2012 budget, the state’s financial well-being is once again a topic of extreme interest. “While the tax hikes approved at the end of the last legislative session will provide some new revenue, and some relief for the state, it is just one of many steps required to restore...
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