Illinois Senate leader still working on pension deal
SPRINGFIELD, Ill. (AP) - A spokeswoman for Senate President John Cullerton says he will keep working to pass a pension reform bill he believes can survive a court challenge.
Rikeesha Phelon says Cullerton and fellow Democrat House Speaker Michael Madigan have "the same goal but different approaches" to solving Illinois' nearly $100 billion pension crisis.
Madigan filed his pension plan on Tuesday. It caps the salary on which a pension can be based at $110,000 and limits annual cost-of-living increases.
Madigan's legislation also removes language from a plan backed by Cullerton that got Senate approval last month. Cullerton's plan offers affected state-government employees and teachers a choice of benefits instead of unilaterally cutting them.
Cullerton believes the state must give retirees a choice in benefits in order for the legislation to be considered constitutional.
IL House passes pared down pension plan
The bill is sponsored by House Speaker Michael Madigan and comes out of a laborious process where lawmakers are addressing the pension problem piece by piece instead of a total overhaul at once. House members voted in favor 66-50 yesterday. It's the third scaled-back pension bill the House has recently approved.
Thursday's proposal says that no cost-of-living increases can be taken until retirees reach 67 years of age, or five years after retirement and applies COLAs only to the first $25,000 of an annual pension.
Illinois has nearly $100 billion in unfunded pension liability because for years lawmakers either skipped or shorted payments.
Latest News
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8

STUDY: FISH IN DRUG-TAINTED WATER SUFFER REACTION
BOSTON (AP) -- What happens to fish that swim in waters tainted by traces of drugs that people take? When it's an anti-anxiety drug, they become hyper, anti-social and aggressive, ...

GENE FLAWS COMMON IN BLACKS WITH BREAST CANCER
CHICAGO (AP) -- Gene flaws that raise the risk of breast cancer are surprisingly common in black women with the disease, according to the first comprehensive testing in this racial...

EU: TEST SHOW NO SAFETY ISSUES WITH HORSEMEAT
BRUSSELS (AP) -- The European Union says more than 7,000 tests across the 27-nation bloc on products labeled as beef show that nearly 5 percent of them contained horse meat. The...

Report finds lax oversight of specialty pharmacies
WASHINGTON (AP) - A congressional investigation finds that specialty pharmacies like the one that triggered a deadly meningitis outbreak last year have little state oversight. ...
NPS HANTAVIRUS RESPONSE FOLLOWED POLICY
YOSEMITE NATIONAL PARK, Calif. (AP) -- Federal investigators probing the hantavirus outbreak blamed for three deaths at Yosemite National Park recommended on Monday that design cha...

HUGE DRUG COST DISPARITIES SEEN IN HEALTH OVERHAUL
WASHINGTON (AP) -- Cancer patients could face high costs for medications under President Barack Obama's health care law, industry analysts and advocates warn. Where you live cou...

STUDY SHOWS DECLINING LIFE SPAN FOR SOME US WOMEN
NEW YORK (AP) -- A new study offers more compelling evidence that life expectancy for some U.S. women is actually falling, a disturbing trend that experts can't explain. The lat...

First lady's anti-obesity campaign is prompting change
WASHINGTON (AP) - Walmart is putting special labels on some store-brand products to help shoppers quickly spot healthier items. Millions of schoolchildren are helping themselves to...