Monday, Mar 2, 2015
Quincy, IL News - QuincyJournal.com
Trending on the Journal

Related Headlines

Illinois pension payments up next year by nearly $700 million

Illinois AG files notice of appeal in pension case

Removing The Pension Protection Clause

Moody's: Ill. pension debt vs. revenue is worst

Individual state pension miscalculations can now be legally addressed, fixed

Recent Comments

GuyFawkes10 - Obama to ban bullets by executive action, threatens top-selling AR-15 rifle - Quincy, IL News - Quin
I understand the facts. Obama is the one behind this. He couldn't get the assault weapon ban so he moves on to another tact. What three branches? I see only one lately, the King
GuyFawkes10 - All aboard? State cuts could mean fewer Amtrak trains - Quincy, IL News - QuincyJournal.com
No, they would rather turn a blind eye to employee theft and incompetence. Isn't that the government way?
ChristiMay - Durbin and all Dems should boycott Netanyahu speech - Quincy, IL News - QuincyJournal.com
Any wonder that Israel is concerned about Iran? They have been threatened with annihilation and it seems the Dems and President O aren't the least bit concerned. In fact, we are playing right into their hands with this ridiculous attempt at an agreement with Iran. More sanctions - not less! The fact that that the administration is upset that the Prime Minister was invited by Boehner and…
Givemeliberty - All aboard? State cuts could mean fewer Amtrak trains - Quincy, IL News - QuincyJournal.com
Put the whole damn thing on the auction block, let Warren Buffet and Donald Trump fight over it.
qfingers - All aboard? State cuts could mean fewer Amtrak trains - Quincy, IL News - QuincyJournal.com
What...and lose union jobs? You think the Illinois political machine will let that happen?

Most Popular

City starting to look at budget cuts

Obama to ban bullets by executive action, threatens top-selling AR-15 rifle

Adams Co Divorces for Feb 23

Republican Primary election in Quincy today

Schock used taxpayer and campaign funds for private planes, entertainment expenses

QFD at Madison School Wednesday

C-SC to host American Mathematics competition

Blessing Health System to co-sponsor Bridge the Gap race

Sen. Cullerton backs pension reform that will supposedly save $138 million

1 year, 4 months ago From sj-r.com

Illinois Senate President John Cullerton said Wednesday he’s working to build support for a compromise pension reform plan that would save $138 billion over 30 years.

“There’s a compromise that we’re talking about right now,” Cullerton told the editorial board of The State Journal-Register. But he said that while the legislative pension reform committee  worked to develop and evaluate the plan, that group has yet to reach agreement.

The Chicago Democrat said he supports the plan, adding that he hopes it can be acted on during the veto session scheduled to begin Oct. 22.

Elements of the compromise include having what is now a 3 percent compounded cost of living adjustment added to pension payments changed to half of the Consumer Price Index. Cullerton said the COLA couldn’t drop below 1 percent.

“It has a ceiling of 4 percent,” he added, “which is important because if there is inflation, there could be an actual opportunity for people to … get more than they’re getting now.”

Estimates are that the proposal would have state pension funds fully funded by 2043.



Read more: http://www.sj-r.com/breaking/x452546738/Cullerton-backs-pension-reform-plan-to-save-138-billion#ixzz2gfwDdVMz


From the Newsroom

QuincyJournal on Twitter

QuincyJournal 1 hour, 26 minutes ago

At Least 34 Democrats Will Boycott Netanyahus Congressional Speech on Security of Israel http://t.co/8OvJrb6pk3
QuincyJournal on Twitter

QuincyJournal 5 hours, 28 minutes ago

Durbin and all Dems should boycott Netanyahu speech - Showdown tomorrow http://t.co/yudn0KknO7
QuincyJournal on Twitter

QuincyJournal 5 hours, 28 minutes ago

'Blue-Green Algae' Proliferating in Lakes http://t.co/EbViCfgMWA
QuincyJournal on Twitter

QuincyJournal 6 hours, 25 minutes ago

Political tensions that Schweich faced had mounted - “looked very tense.” http://t.co/4AYkG5XowC