Friday, Oct 24, 2014
Quincy, IL News - QuincyJournal.com
Trending on the Journal

Related Headlines

Removing The Pension Protection Clause

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

Individual state pension miscalculations can now be legally addressed, fixed

State retiree insurance premiums dropping to pre-July 1 levels

Average Illinois public pension catching up to average salary

Recent Comments

UrKidsWillPay - GREDF supports Quincy School Building Referendum - Quincy, IL News - QuincyJournal.com
There's one little kid in there with a suit on.. .between the bald guy and the tall guy to the left. You just missed him.
vonvicious - Man arrested for performing lewd acts - Quincy, IL News - QuincyJournal.com
Not a laughing matter but I guess he shouldn't have been "beating around the bush" #lewddude
1950Brutus - GREDF supports Quincy School Building Referendum - Quincy, IL News - QuincyJournal.com
The first thing that struck me about the picture is that the adults are neatly dressed but the kids look like they are in need of clothing assistance. Is it considered child abuse for a boy/girl to wear a suit/dress these days?? I'm back in the 50s again.
qfingers - Quincy School Board pledges to reinvest savings from new buildings - Quincy, IL News - QuincyJournal
By my math (in the article....20*$2M = $40M Repairs on QHS, EC, QJHS $16M Difference = $24M What are we doing with that "extra" $24M? The new building should not require any life safety projects for a long time (and really shouldn't require ANY if maintenance is done like it should be). I'm not against the referendum...just trying to make sense of all the numbers being thrown about. We're…
tts - QPD Blotter for 10/23/14 - Quincy, IL News - QuincyJournal.com
Sounds to me like an insurance scam!

Most Popular

School Board to outline plans for savings, old buildings if referendum passes

Illinois Early Voting starts: Cook County ballot box tries to cast GOP votes for Democrats

Bill Clinton to address workers at pro-Quinn rally

Quincy School Board pledges to reinvest savings from new buildings

Quincy man accused of theft from elderly woman

Several honored during C-SC Homecoming

Avenue of Lights annouces Advantage Program

IL: Jimmy John's owes taxes on corporate jets

Illinois universities search for ways to soften pension losses

5 months, 2 weeks ago from the Associated Press

Most say they can't afford it

From from the Associated Press:

Concerned about retirements and its ability to recruit new professors, the University of Illinoisis working on a plan to make up for what employees will lose after the state's landmark pension overhaul, but most other state universities say they don't have the ability to follow suit.

Most say they just don't have the money to do anything about it.

"Where does this money come from?" asked Matt Bierman, budget director at Western Illinois University, where up to 150 employees are expected to retire, almost 8 percent of the university's 2,000 staff and faculty. "If we're going to add another benefit to our employees, which is probably deserved, we still have to find the revenue or cut expenses."

Illinois lawmakers passed the pension overhaul plan last December to address a $100 billion shortfall in funding state retirement benefits. Signed into law by Gov. Pat Quinn, it cut cost-of-living increases for retirees and capped the amount of earnings that can be applied toward pensions.

The changes take effect in June, but the plan is being challenged in court. That includes a motion filed Friday in Sangamon County by a group that represents university employees and retirees asking that the law be entirely set aside until its constitutionality has been determined.

But many employees of public universities already have decided to retire to avoid losing pension benefits under a new way of calculating them due to the overhaul — or are considering it.

In April, state universities identified an additional problem — an unintended glitch with a date in the law that could further reduce pension payouts for several thousand university employees. Lawmakers last week filed legislation to fix that problem, but there is no guarantee it will happen.

The State University Employees Retirement System says more than 400 employees at the University of Illinois campuses in Urbana-Champaign, Chicago and Springfield have filed paperwork to retire in May and June. And many more are possible.

Details of the U of I plan to cushion employees' losses have yet to be decided, but many administrators assume it will happen. They hope it will keep as many current faculty members around as possible and keep the university on par in recruiting with schools like the Massachusetts Institute of Technology and Stanford University.

But some wonder where the money will come from.

Click Here to Read Full Article


From the Newsroom

Bob Gough on Twitter

Bob Gough 38 minutes ago

@quincyjournal QJTV schedule: Tonight: QHS football at Peoria Richwoods. 7:30 pm Tomorrow: QHS Soccer at Edwardsville Regional title. 6 pm
QuincyJournal on Twitter

QuincyJournal 2 hours, 9 minutes ago

Man arrested for performing lewd acts near school http://t.co/afkHZYrkhY
QuincyJournal on Twitter

QuincyJournal 2 hours, 9 minutes ago

Adams Co. Divorces for 10/24 - From the Circuit Clerk's office http://t.co/5PwTMlKtvX
QuincyJournal on Twitter

QuincyJournal 3 hours, 10 minutes ago

Beardstown gets $2.5 million for community pool - Gov. Quinn, Sen. Sullivan continue handing out cash with the ele... http://t.co/si1pGotlxn