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Tag: University of Illinois Institute of Government and Public Affairs
Symbol of the State of Illinois
News from Springfield … The University of Illinois Institute for Government and Public Affairs has released the result of its study, the Fiscal Futures Project. Key findings were that while the changes to four out of the five Illinois state-funded pension systems will eliminate their unfunded liability over the next 25 years, Illinois’ deficit will...
Northern Illinois University president John G. Peters and acting executive vice president and chief of operations Steven Cunningham lined up with other higher education leaders in the state to testify before the Senate Executive Committee as to the viability of legislation aimed to stabilize the State Universities Retirement System (SURS). Their combined testimony was well-received....
Symbol of the State of Illinois
Northern Illinois University President John Peters and senior administrators have been actively involved in building consensus on a pension stabilization solution for the State Universities Retirement System (SURS) that enjoys the unanimous support of presidents and chancellors of all Illinois public universities. The plan – a combination of Senate Bill 1687 and Senate Bill 2591 – is expected to...
NIU President John G. Peters
Dear Colleagues, I am writing to you today to update you with some very important information relative to the very fluid pension debate in the General Assembly in Springfield. Thursday afternoon, the Illinois Senate approved an amended version of Senate Bill 2404, a union-backed proposal sponsored by Senate President John Cullerton that offers Tier I...
Seal of the State of Illinois
The presidents and chancellors of the 14 public universities in Illinois have unanimously endorsed a six-point proposal for addressing the state’s pension funding crisis as it relates to the State Universities Retirement System (SURS), and in a letter to the governor and legislative leaders they called it “a thoughtful and responsible approach.” “We write to...
'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...
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...