Chicago Tribune
Sunday, Nov 23, 2014
Quincy, IL News - QuincyJournal.com
Trending on the Journal

Related Headlines

Moody’s says Illinois Supreme Court ruling is ‘credit negative’ for state

Judge halts Illinois pension overhaul until ruling

Fifth Pension Lawsuit Filed By U of I Employees

State Supreme Court justices rake in cash tied to pension-law players

Q&A: No easy fix for Illinois' financial woes

Recent Comments

migraine_in_qcy - Quincy Regional Airport makes another late season push for 10,000 departures - Quincy, IL News - Qui
Funny, I thought GuyFawkes10 was suggesting that the people would indeed fly to STL, and then shuttles would drive them back to Quincy. Sounds like enplanements to me.
eaglebeaky - Quincy Regional Airport makes another late season push for 10,000 departures - Quincy, IL News - Qui
With all due respect, I'm gonna go out on a limb and say that there has got to be a rule against what you are suggesting. In order to receive the federal aviation grant, there have to be 10,000 enplanements. (Enplanements are not the number of tickets that are sold, it's the number of ticketed passengers who actually travel on the flights.) If what you're suggesting was allowed, the…
GoQuincy - QPD Blotter for November 22, 2014 - Quincy, IL News - QuincyJournal.com
Is there a list somewhere on the city's website of how many council meetings attended and or missed by aldermen? If not there should be. That is just as important if not more than Mayor Moore's City report card ie., "how are we doing".
CoolEdge - Strawman: The Guy the Liberal Press Doesn\'t Know Exists..... - Quincy, IL News - QuincyJournal.com
This is off topic, but your claims like this really need a link, instead of you spewing Democrat talking points on every issue. "a guy paid by oil companies to tell you that extreme levels of his company's byproduct are okeydokey can be more convincing than the near-entirety of Earth's scientists" Who is that oil company guy? And who is "the near entirety" guy? I read the actual…
SeenTheLight1 - Mann not seeking re-election to Quincy City Council - Quincy, IL News - QuincyJournal.com
Good Luck Eric !

Most Popular

Second arrest made in weekend sexual assault case

Man arrested for sexual assault

Man arrested for financial exploitation of the elderly

Quincy School Board proposes $33.63 million tax levy

Downstate mayors and fire chiefs oppose mandatory firefighter staffing bill Updated Video

Entrup files to run for Alderman on Quincy City Council Updated

REBEL MEDIA: Joe Buck says Kroenke wants Rams in LA Video

Strawman: Just Talking About Healthcare.....

Retired teachers take aim at new pension reform law

10 months, 3 weeks ago Chicago Tribune

Illinois Retired Teachers Association files first lawsuit in Cook County

From Chicago Tribune:

The Illinois Retired Teachers Association filed suit Friday challenging the constitutionality of the state’s historic but controversial plan to deal with the nation’s most underfunded public employee pension system.

The lawsuit is the first of what could be many filed on behalf of state workers, university employees, lawmakers and teachers outside Chicago. The legal challenge argues the law, which limits cost-of-living increases, raises retirement ages for many current workers and caps the amount of salaries eligible for retirement benefits, violates the state Constitution.

The lawsuit, filed in Cook County Circuit Court on behalf of eight non-union retirees, teachers and superintendents who are members of the state’s Teacher Retirement System, contended the constitutional “guarantee on which so many relied has been violated.”

“Countless careers, retirements, personal investments and medical treatments have been planned in justifiable reliance not only on the promises that were made in collective bargaining agreements and the Illinois Pension Code, but also on the guarantee of the (state constitution’s) Pension Protection Clause,” the lawsuit said.

But a spokeswoman for Democratic Gov. Pat Quinn, who signed the pension changes into law this month after years of political stalemate, said that just as a lawsuit had been expected, the administration “(expects) this landmark reform will be upheld as constitutional.”

At issue is a provision of the 1970 Illinois Constitution which states that public pensions represent“an enforceable contractual relationship, the benefits of which shall not be diminished or impaired.”

The new law, however, scales back what had been annual 3 percent compounded cost-of-living increases to retirees. Instead, retirees would get 3 percent, non-compounding yearly bumps based on a formula that takes into account their years of service multiplied by $1,000. The $1,000 factor would be increased by the rate of inflation each year.

The measure also requires many current workers to skip up to five annual cost-of-living pension increases when they retire. For current workers, it also would boost the retirement age by up to five years, depending on how old they are.

Click Here to Read Full Article


From the Newsroom

QuincyJournal on Twitter

QuincyJournal 3 hours, 30 minutes ago

QMG Therapy Services gets national recognition http://t.co/brzq2i4mMf
QuincyJournal on Twitter

QuincyJournal 3 hours, 31 minutes ago

New Tech, Policies Spur Ag Innovations http://t.co/uIopYkg4q8
Bob Gough on Twitter

Bob Gough 13 hours, 33 minutes ago

@DOB23 last Friday off before hoops start.v
Bob Gough on Twitter

Bob Gough 15 hours, 44 minutes ago

RT @melanie faulkner: DEMOCRAT GERALDO SAYS BLACK PEOPLE WON'T WORK SO WE NEED MEXICANS http://t.co/nAjeLyH6BA