Thursday, Jul 30, 2015
Quincy, IL News - QuincyJournal.com

Related Headlines

Madigan files, passes bill to nix lawmaker pay raises after blocking similar bill for weeks

Why won’t Illinois lawmakers reform their own pensions?

Illinois pension payments up next year by nearly $700 million

Illinois AG files notice of appeal in pension case

Removing The Pension Protection Clause

Recent Comments

QuincyGuy - GOP fundraiser calls for U.S. Sen. Mark Kirk to drop 2016 re-election bid, backtracks - Quincy, IL N
Keep in mind - this was one contributor - not the Republican Party.
pjohnf - Why won’t Illinois lawmakers reform their own pensions? - Quincy, IL News - QuincyJournal.com
Why won't Illinois politicians reform their own pensions? That's a good question. They're eager to blame state employees and other government workers for Illinois's budget problems, yet they ignore their own bankrupt pension system, while the tax payers pay year after year to keep politicians in their Cadillac pensions. If Illinois pension reform is to happen then the corrupt politicians…
pjohnf - Madigan files, passes bill to nix lawmaker pay raises after blocking similar bill for weeks - Quincy
Madigan's bill was nothing more political grand standing and was designed to fool the foolish. He thinks the public is stupid, especially his supporters, but anybody with a brain can see through his subterfuge. Madigan and his co-conspirator Cullerton passed a continuing appropriation last year in the hopes of hiding the annual raises from the tax payers and not requiring a vote by the corrupt…
pjohnf - Jewish Democrats give John Kerry earful on Iran deal - Quincy, IL News - QuincyJournal.com
He warned that walking away from the deal would isolate the United States from its international allies and Iran’s countdown to nuclear weapons “starts tomorrow.” Duh, our allies don't trust us anyway and our enemies don't fear us so what's to lose if we reject this bad deal? The countdown to Iran getting a nuclear bomb started a long time ago, Lurch. And Lurch actually said this, "“I…
Givemeliberty - Trash burner has residents seeing red - Quincy, IL News - QuincyJournal.com
Government--Do as I say not as I do.

Most Popular

Man jumps off Bayview Bridge

Shooting near 8th and York Updated

Trash burner has residents seeing red Updated QJ Original Video

Projected remaining Cleanup cost; at least $1.26 Million

Quincy Public Schools Foundation to Host Renowned Comedian and Ventriloquist

Seven Dead, 34 Hurt In Weekend Shootings In Chicago

With Illinois' budget in limbo, child cares serving the poor are closing down

Illinois prison population dropping

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

1 year, 9 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 40 minutes ago

There's a new debt-ceiling deadline on the horizon... http://t.co/J5sEijKozR
QuincyJournal on Twitter

QuincyJournal 1 hour, 38 minutes ago

QPD Blotter for July 30, 2015 http://t.co/N5EY6UOQQD
QuincyJournal on Twitter

QuincyJournal 13 hours, 39 minutes ago

Plane wreckage found in Indian Ocean thought to be Flight MH370 http://t.co/ePEdBu8JeR
QuincyJournal on Twitter

QuincyJournal 19 hours, 38 minutes ago

Trash burner has residents seeing red http://t.co/dGmuITQuQS