Tagged: pensions

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Illinois pensions
1:41 pm
Thu August 23, 2012

Possible credit rating downgrade looms for Illinois over pension issues

Credit (via Flickr/jglazer75)
A interior view of the dome of the Illinois State Capitol building in Springfield, Ill.
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A failed special session that was supposed to lead to the passage of pension reform has pushed Illinois closer to a downgrade of its credit rating.

Gov. Pat Quinn ordered lawmakers back to Springfield last Friday to deal with the state's massively underfunded pension systems, but the chambers could not agree on a deal.

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Firefighter pensions
2:54 pm
Thu July 12, 2012

Legislative saga over firefighter pensions should end on Friday

Credit (Rachel Lippmann/St. Louis Public Radio)
Current and retired firefighters watch the Board of Aldermen debate reforms to their pension system on April 16, 2012. The measure should pass the Board on Friday.
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After five months of debate, major reforms to the pensions for firefighters in St. Louis City are about to become law.

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Ill. session ends
6:58 am
Fri June 1, 2012

Ill. lawmakers leave major business unfinished despite frenzied end to session

Credit (via Flickr/JimBowen0306)
Illinois lawmakers will return to the Capitol this summer because they failed to reform the state's pensions, but leaders say a lot was still accomplished.
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Lawmakers in Illinois went past their midnight deadline in Springfield on Thursday in an effort to finish their business before the campaign season. In a frenzied end, the General Assembly approved a new state budget and authorized a massive expansion of gambling.

But they're not finished.

The collapse of pension reform means lawmakers will probably return to Springfield this summer. This recap is from Amanda Vinicky in Springfield.

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