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Daily Facts
Madigan says universities, community colleges willing to share pension costs
Chicago Tribune – May 17, 2013
SPRINGFIELD — House Speaker Michael Madigan on Thursday announced that he has struck a preliminary deal with the state’s universities and community colleges that will require them to slowly pick up the cost of teacher pensions over several years even as tuition rates continue to rise.
College officials support shifting pension costs to universities
Bloomington Pantagraph – May 16, 2013
SPRINGFIELD — University and community college officials expressed support Thursday for a plan that would shift the cost of employee pensions their way.
In a hearing at the Capitol, higher education leaders told lawmakers that they agreed to a plan pushed by House Speaker Michael Madigan, D-Chicago, that would gradually shift the cost of pensions beginning in fiscal year 2015.
Under that plan, the universities would pay an additional half of 1 percent of retirement costs per year until the full cost has been transferred.
Watchdog group says state must address pensions
NWI Politics – May 14, 2013
CHICAGO | Gov. Pat Quinn’s proposed state budget is a baby step in the right direction, a watchdog group’s analysis said Monday, but the governor may be overstating savings from a recent union contract negotiation and not putting enough toward roughly $9 billion unpaid bills.
Report: State finances are of ‘grave concern’
Peoria Journal Star – May 14, 2013
CHICAGO — Gov. Pat Quinn’s proposed state budget is a baby step in the right direction, a watchdog group’s analysis said Monday, but the governor may be overstating savings from a recent union contract negotiation and not putting enough toward roughly $9 billion in unpaid bills.
All told, the Civic Federation said, it mostly illustrates how Illinois lawmakers must come up with a solution for a worst-in-the-nation pension crisis.
Why do GOP House members vote no on pension reform?
Crain’s – May 13, 2013
For us city folk, it’s easy to stereotype what today’s GOP stands for: an Iron Curtain border with a fleet of buses to return benefit thieves who sneak in; home-bound women who pass the day raising children and tending to the family arsenal of firearms; homosexuals who remain far, far out of sight and certainly not in line for a marriage license.
Between two pension plans, we like Mike’s
Crain’s – May 13, 2013
We hope “Twilight” fans won’t mind if we borrow the Team Edward and Team Jacob meme, but in the equally lurid, adolescent and bloody Illinois pension drama, we are decidedly Team Mike.
House Speaker Michael Madigan earlier this month pushed through his chamber a comprehensive bill that represents the most significant step yet toward filling the $100 billion-plus public pension hole that’s sinking the state. His plan is far from perfect, but it’s more muscular than a competing proposal crafted by his fellow Democrat, Senate President John Cullerton.
Civic Federation sides with Madigan in pension fight
Crain’s – May 13, 2013
A top Chicago watchdog group is lining up with Illinois House Speaker Michael Madigan in the Springfield showdown over how to reform the state’s pension system.
In a report out today, the Civic Federation says that a bill pushed through the House by Mr. Madigan “will produce pension savings of the magnitude needed to stabilize the state’s finances.” But a competing plan by Senate President John Cullerton “doesn’t even get us back to where we were last year,” said Federation President Laurence Msall in an interview last Friday.
Our View: Illinois’ pension fix has been elusive for far too long
Rockford Register Star – May 12, 2013
Last week was a good example of why important legislation often stalls in Illinois.
As expected, the Illinois Senate approved a pension reform package backed by Senate President John Cullerton. The vote was 40-16; Tim Bivins, R-Dixon, was one of the no votes.
The bill heads for the House, where Speaker Mike Madigan has his own pension reform package, one that would save more money and tick off the unions more than the Cullerton plan.
Statehouse Insider: Two pension plans. Now what?
State Journal-Register – May 12, 2013
OK, now the House has passed a pension reform plan and the Senate has passed a pension reform plan.
The problem, obviously, is that neither of those plans is on Gov. Pat Quinn’s desk. Until one of them gets there, even phase one of pension reform isn’t complete. (Phase two will be the inevitable court challenge).
Three weeks remain in the spring session before the legislature’s scheduled adjournment, so there’s still time to work out a solution to pension reform. It’s the how that has people guessing.
Our Opinion: Cullerton, Madigan should collaborate for best pension results
State Journal-Register – May 12, 2013
Illinois lawmakers have created quite a conundrum for themselves and for the residents of this state in putting forth two separate, imperfect pension-reform proposals.
The state’s pension problems, unmatched in the country, are well documented. Illinois has about $100 billion in pension debt, a staggering amount that increases by millions of dollars every day and affects everything from the state’s ability to pay its bills to the amount of money available for classrooms and road repairs.