Tuesday, February 26, 2013
State Rep. Lou Lang (D-Skokie) has proposed that Illinois keep its current tax hike of 5 percent to fund all five pension sectors indefinitely.
In 2011, Illinois Gov. Pat Quinn increased state income tax from 3 percent to 5 percent. The increase was supposed to expire in 2014, but state Rep. Lou Lang (D-Skokie) wants to keep that tax hike indefinitely - it's his solution for repaying the $97 billion owed to all five pension sectors in Illinois, the State Journal-Register reported. Under Lang's plan, state workers would be required to pay an additional 3 percentage points into their pensions and the minimum retirement age for full pension benefits would be 67-years-old, the Journal-Register stated. However, there are other proposals, but Lang is calling them "unconstitutional" because they would change cost-of-living benefits for retirees. "We need a pension plan that will not end …
Thursday, January 31, 2013
There will be a town hall meeting regarding Illinois' current pension status in Wilmette this Feb. 4.
Cook County Commissioner Larry Suffredin, Illinois State Senator Daniel Biss and State Representatives Robyn Gabel and Laura Fine are hosting a town hall meeting on the state of public pensions in Illinois on Feb. 4. The elected officials will discuss the current liability of the Cook County and Illinois State pension systems, as well as various efforts to reform those systems. Questions from the public will be taken. The forum will take from 7:00 p.m. until 8:30 p.m. at the Community Recreation Center, 3000 Glenview Road, in Wilmette.
Monday, August 20, 2012
A special legislative session in Springfield last week made no progress. Here, Patch rounds up reactions from local politicians and residents.
No one ever said getting the pension issues in line in Illinois would be easy. State lawmakers have certainly proven that to be the case by the action – or rather inaction – last week in Springfield. In a turn of events that had all the surprise of say, the sun rising in the east, the Illinois General Assembly failed to act at the special session Friday on the matter of the pension debt that is estimated to be anywhere from $80 - $90 billion. So the issue will not be acted upon until after the November election at the earliest. The cost to the taxpayers was $40,000 for the session. The only vote taken was in the House on Legislators curbing their own pensions. That measure received 54 yes votes as opposed to 53 against, but it was still …