The Illinois Supreme Court announced on Thursday a specific date and time for oral arguments in the state’s high-profile pension lawsuit. The arguments will be held on March 11 at 2:30 pm, CST, according to the Associated Press. Unions, retirees and retiree groups are suing the state over a pension overhaul passed in late 2013. … Continue reading Illinois Supreme Court Schedules Oral Arguments in Pension Suit
Illinois Gov. Bruce Rauner laid out his budget plan on Wednesday, and it included a number of pension cuts – decreasing annual COLAs, freezing benefits, and moving employees into a plan that yields fewer benefits. (Under Rauner’s proposal, police and firefighters would be exempt from these changes.) One lawmaker on Wednesday accused Rauner of using … Continue reading “Phantom Savings”: Top Illinois Senator Questions Gov. Rauner’s Pension Cuts
Unions and retirees are currently challenging Chicago’s 2014 pension changes, and they are asking a judge to stop the implementation of the changes – which took effect Jan. 1 – until the lawsuit is resolved. But a Chicago official said on Thursday that such an injunction could spur a credit rating downgrade from all three … Continue reading Chicago Could See Credit Downgrade If Pension Changes Are Suspended Pending Lawsuit
The City of Chicago filed a brief with the state Supreme Court last week in support of the state’s pension reform law, in part because the city has its own set of pension reforms that could be impacted by the ruling. But even a ruling overturning the state’s pension law might not affect Chicago’s own … Continue reading Illinois Supreme Court Pension Ruling May Not Affect Chicago Reforms, Say Lawyers
When the lawsuit against Illinois’ pension reform law went to the Supreme Court, the Court obliged the state’s request for an expedited process. The state, win or lose, wants the court’s decision as soon as possible. But unions and public employees fighting the law are now asking the court to slow down the process. They … Continue reading Illinois Unions Challenging Reform Law Ask Supreme Court to Slow Down
A second lawsuit has been filed against Chicago, challenging the pension cuts passed by the state this year. The pension changes raise contribution rates for employees and employers, and reduce COLAs. The changes apply to members of the Chicago Municipal Employees’ Annuity & Benefit Fund and Chicago Laborers’ Annuity & Benefit Fund. From Reuters: Litigation … Continue reading Second Lawsuit Filed Against Chicago Pension Changes
Four unions on Tuesday filed a lawsuit challenging Chicago Mayor Rahm Emanuel’s plan to increase pension contributions for city employees and reduce COLAs. But Emanuel said Thursday he thinks the plan will pass legal muster, in part because he worked with dozens of unions to formulate it. From the Chicago Sun-Times: Two days after four … Continue reading Emanuel Confident Pension Plan Will Survive Lawsuit
Chicago unions and public employees filed a lawsuit Tuesday to block pension changes coming in 2015 that would reduce future COLA increases and require workers to pay more toward their retirement. In a newly released commentary, rating agency Fitch says the lawsuit was expected. But it also demonstrates the difficulty of making changes to pension … Continue reading Fitch: Lawsuit Against Chicago Pension Cuts Expected; Emblematic of Reform Difficulty
The Illinois Supreme Court on Wednesday complied with a request by Illinois Attorney General Lisa Madigan to fast track the hearing over the state’s pension reform law, which a lower court found unconstitutional. From Reuters: The court ordered public labor unions and retiree groups challenging the law and the state to file their briefs in … Continue reading Illinois Supreme Court Expedites Pension Reform Appeal
Last week, Illinois asked the state Supreme Court to expedite the hearing over the state’s pension reform law. But on Sunday, attorneys representing the state workers and retirees said they could block the attempt to fast track the case. Such a move could drastically change the timeline for the lawsuit’s hearing. From the Southern Illinoisan: … Continue reading Fast-Tracking of Illinois Pension Case Could Be Blocked
