July 30, 2013

Weekly RoundUp: Pensions

Print
Illinois State Capitol Building

Justin Brockie/Flickr Creative Commons

Illinois State Capitol Building

Illinois lawmakers’ paychecks aren’t in the mail yet, but according to one report by Illinois Public Media, the legislature’s special committee on pensions may be close to reaching a compromise.

Illinois Governor Pat Quinn froze the paychecks of state lawmakers in early July, saying that the legislators wouldn’t get paid until the pension reform “crisis” was resolved.

A recent article on CNN said Quinn’s efforts to take on pension reform has been a major part of his administration since taking office in January of 2009. “In a statement, he called Illinois’s pension problem the “worst-in-the-nation,” the product of 70 years of mismanagement by past legislatures and governors. This year alone saw a $1 billion payment to the pension system.”

Below is a roundup of other recent articles about the state of Illinois’ pension problems.

 

Illinois taxpayer contributions to state pensions skyrocket – Illinois Policy Institute

“Detroit’s recent bankruptcy is sending cities and states a warning: taxpayers shouldn’t be taken for granted. Unfortunately, Illinois’ long-term pension plan does exactly that.

Springfield still believes that taxpayers are passive sources of revenue. While state worker contributions to Illinois’ five pension systems have gone up by 75 percent since 1998, taxpayer contributions have gone up by 427 percent over the same period. In 2012 alone, Illinois taxpayers contributed more than $3.5 billion more to the pension systems than state workers did.”

 

Judy Baar Topinka: I’m Not Paying Any Illinois Lawmakers Amid Pension Mess – The Huffington Post

“Illinois Comptroller Judy Baar Topinka on Thursday said she has no choice but to double down on Gov. Pat Quinn’s previous ultimatum that state lawmakers will not be paid until they come to an agreement on pension reform.”

 

Pew says IL must fix pensions, but not with hasty measures – Illinois Watchdog

“No half measures, no political solutions and no speedy solutions just for the sake of being quick. That’s the pension reform road map the Pew Center on the States is giving Illinois.