from Chicago Tribune
Friday, Nov 28, 2014
Quincy, IL News - QuincyJournal.com
Trending on the Journal

Related Headlines

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

State retiree insurance premiums dropping to pre-July 1 levels

Recent Comments

samthebutcher - Debate continues on how to go about building Quincy\'s new schools - Quincy, IL News - QuincyJournal
Blue HorseShoe says...Mr. McNay is the smartest guy in the room. Pay attention to what he says and how he votes.
GoQuincy - Debate continues on how to go about building Quincy\'s new schools - Quincy, IL News - QuincyJournal
Jeff Mays said something like with the voters passing the referendum to build the schools the voters also showed they put their faith and trust in the school board to make decisions and do what is right.. Uh lets not get carried away Mr. Mays. I didn't see that on the ballot and I think the public still has concerns!
FUmigraine_in_qcyCK - Adams Co. State\'s Attorney explains decision not to prosecute alleged dog killer - Quincy, IL News
I love migraine (clap, clap, clap, clap, clap) I love migraine (clap, clap, clap, clap, clap) Does this cheer (based on 'let's go Devils' give you a headache)
FUmigraine_in_qcyCK - QPD Blotter for September 27, 2014 - Quincy, IL News - QuincyJournal.com
Sounds like something a bitter woman would do because her man left her for someone actually having a job and prospects and not being negligent to her children. When the alleged near car collision fails, they just end up claiming rape or domestic abuse, and because of VAWA and the fact that they are women, 'THEY ARE ALWAYS RIGHT' ! Go girl power. Thank you feminist dems! You make the rocking…
FUmigraine_in_qcyCK - Drug and weapons arrest made at 30th and State - Quincy, IL News - QuincyJournal.com
Haha. Christian. Muslim. Rastafarian. Scientologist. Mormon. Ham sandwich. Jewish. Sex. Jedi. All the same=hopelessly, incorrigibly, DELUSIONAL!

Most Popular

Entrup files to run for Alderman on Quincy City Council Updated

Quincy man wounded while deer hunting

Quincy Regional Airport makes another late season push for 10,000 departures Video

Quincy City Council votes to sell defaulting loans

Quincy School Board to discuss building project with out-of-town contractor

Kinder asks if Obama Ordered National Guard to Stand Down in Ferguson Video

Debate continues on how to go about building Quincy's new schools

Bruce Guthrie named director of The District

Illinois Senate president: Chicago pension fix job 1 this year

10 months ago from Chicago Tribune

Cullerton’s comments come less than two months after the state approved a massive plan to deal with the $100 billion pension debt for state workers, university employees and teachers outside Chicago

From from Chicago Tribune:

With Chicago staring at a deadline for coming to grips with a $29 billion pension debt for teachers and public safety workers, Illinois Senate President John Cullerton is urging unions to help negotiate an agreement on retirement benefits lest lawmakers act on their own.

But Cullerton, in a Tuesday interview ahead of next week’s new legislative session, also said that coming up with a deal on city police and firefighter pensions could be very complicated since fixes applied to other government worker pension systems wouldn’t apply.

“The pensions for Chicago is a real major issue which we have to deal with because if we don’t, we’ve got built in triggers that would require dramatic increases in contributions into those pension funds,” the Northwest Side Democrat said. “It’s a crisis if we don’t do anything.”

Cullerton and House Speaker Michael Madigan helped build in those city pension triggers by passing a 2010 law requiring increased payments for public safety pensions.

Cullerton’s comments Tuesday come less than two months after state legislators and Democratic Gov. Pat Quinn approved a massive plan to deal with the state’s $100 billion pension debt for state workers, university employees and teachers outside Chicago. Those changes involve curbing cost-of-living increases and increasing retirement ages for workers while also lessening employees’ contributions to their retirement system. The law is being challenged in court by worker and retiree groups over its constitutionality.

Without quick changes in state law, Chicago Public Schools face a $612 million payment for teacher pensions for the budget year that ends June 30, about triple what they had been, Cullerton said. At the same time, payments for police and fire pensions will increase by nearly $600 million next year.

At one point last year, Cullerton proposed a measure to delay increased city payments to police and fire pensions until 2018. The plan also would push back the need for large-scale increases in city funding for those pensions until 2022, buying Mayor Rahm Emanuel even more time.

Cullerton said that proposal was designed to get people to the negotiating table and not to delay the day of reckoning.

Click Here to Read Full Article


From the Newsroom

QuincyJournal on Twitter

QuincyJournal 5 minutes ago

Black Friday shopping crowds thin after Thanksgiving rush http://t.co/NsWu3Wsi0N
QuincyJournal on Twitter

QuincyJournal 6 minutes ago

QSFA announces member organizations forum meeting http://t.co/cbbXwLfpVs
QuincyJournal on Twitter

QuincyJournal 4 hours, 52 minutes ago

Quinn grants clemency to 126 ahead of holiday - Denied 185 petitions http://t.co/iOrikvTHsy
QuincyJournal on Twitter

QuincyJournal 4 hours, 54 minutes ago

QPD Blotter for November 28, 2014 http://t.co/zlNx2D6vAs