Tagged: Illinois pensions

Illinois cities and schools would lose hundreds of millions of dollars under a pension proposal from House Speaker Michael Madigan.

Madigan wants to consider dipping into a tax stream that provides about $1.4 billion for local government. He would use that money to pay state costs for providing pensions for teachers.

A spokesman says the powerful Chicago Democrat is trying to jumpstart discussions about reducing Illinois pension expenses.

Will be updated.

Updated 2:07 p.m. with more information on downstate schools, cause of pension problem.

Ill. Gov. Pat Quinn wants to raise the retirement age for Illinois public employees and require them to contribute more money to their retirement funds.

Those are the key parts of what Quinn calls a "bold plan" to shore up state pension systems. They're now about $85 billion short of the money they'll eventually need.

University of Missouri Curators to consider raising tuition today

The special meeting comes after the governing board postponed consideration of a tuition increase three weeks ago at its regular meeting in Kansas City. This time, the curators will meet by video teleconference along with new university president Tim Wolfe.