Local News

Pension crisis passes to new General Assembly

Illinois’ lame-duck legislative session came to an end with no action to fix the state’s ever-widening public pension crisis.

A bill that might have shrunk the $96 billion shortage in the pension fund never made it to the House floor; and governor Pat Quinn failed to convince lawmakers to let him appoint a special committee whose pension decisions would become law.

State Senate president John Cullerton promises to get back to work on pension reform when the new General Assembly is sworn in.

One Senate proposal would freeze pension benefits for several years and require government employees to contribute more to their own pensions.

Cullerton says the bill could wipe out about a third of the pension underfunding.

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3 Comments to “Pension crisis passes to new General Assembly”

    Eric said:
    January 9, 2013 at 11:11 AM

    Nothing has passed because the changes our politicians suggest are all unconstitutional. If they would simply work with the employees who are the victims of poor political spending we may come to a solution some day.

    Guest said:
    January 9, 2013 at 1:45 PM

    Wait until the state declares bankruptcy, then you will have nothing.

    Frank S. said:
    January 16, 2013 at 10:30 AM

    The politicians who created this pension crisis mess by taking money from the pension fund and neglecting to repay that money when the bill came due are now passing the burden on the the state employees who had nothing to do with this debacle. The state employees were paying their fair share to fund the pension account, why should they now be charged with making good on these dirty politicians and their mismanagment and or misappropriation of funds. Why not get them to replace the money out of the millions and millions of dollars they made on investments from the money they stole from the pension fund.

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