Bruce_Rauner_August_2014

Illinois Gov. Rauner Would Fine Schools For “Spiking” Pensions

Illinois public schools that hand out late-career pay raises could be subject to heightened penalties under the Rauner administration. Gov. Bruce Rauner this week laid out a series of pension-related measures as part of his budget proposal; among them was the idea of levying a penalty on schools that give late-career raises to teachers. Illinois already ...
rauner

“Phantom Savings”: Top Illinois Senator Questions Gov. Rauner’s Pension Cuts

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 ...
Bruce_Rauner_August_2014

Documents: Illinois Gov. Rauner’s Budget Will Recommend Pension Cuts

Illinois Gov. Bruce Rauner will give his budget address on Wednesday afternoon. He’ll announce a number of cost-cutting proposals, and pensions are sure to be featured. What specifically does Rauner have in mind for the state pension system? Greg Hinz of Crain’s Chicago Business got a hold of budget documents that hint at Rauner’s plans. From ...
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Illinois Union President: Taxpayers Would Lose With Switch to 401(k)

When Illinois Governor Bruce Rauner was on the campaign trail, he touted his preferred solution to the state’s pension problems: shifting new hires into a system that more resembled a 401(k) plan than a traditional pension. The idea is commonplace and has been incorporated into dozens of state and local pension plans across the country. Michael T. ...
Bruce_Rauner_August_2014

Illinois Gov. Rauner’s Municipal Bankruptcy Plan Faces Obstacles

Last week, Illinois Gov. Bruce Rauner suggested giving municipalities the power to file for bankruptcy as a way to tame pension debt. The idea is that even if towns and cities don’t follow through, the threat of bankruptcy could give them leverage in pension negotiations with workers. But the proposal, if it ever comes to fruition, will face legal ...
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Illinois Gov. Rauner Proposes Bankruptcy As Strategy for Taming Municipal Pension Debt

Illinois Gov. Bruce Rauner didn’t touch on pensions during his State of the State address this week. But in a list of policy proposals handed out to lawmakers, Rauner suggested giving municipalities the power to file for bankruptcy as a way to tame pension debt. Even if towns and cities didn’t act, the threat of bankruptcy could give them leverage ...
Bruce_Rauner_August_2014

Rauner’s State of State Address Short on Pension Talk

On Wednesday, new Illinois Gov. Bruce Rauner gave his State of the State address. The speech wasn’t short on policy ideas – but in one area, Rauner was conspicuously mum: Pensions. Rauner didn’t so much as say the words “pension” or “retirement” in his speech. Observers say he could be saving that talk for his budget address later this ...
Bruce_Rauner_August_2014

Video: How Might Bruce Rauner Tackle Illinois Pensions?

How might Bruce Rauner attack the state’s pension debt? Pension360 has covered his changing views on reforms. In this video, Illinois Policy Institute CEO John Tillman talks about the state’s pension debt and how Rauner might handle it.   Video credit: The Wall Street Journal   By Steven Vance [CC-BY-2.0 (http://creativecommons.org/licenses/by/2.0)], ...
Bruce_Rauner_August_2014

Where Does Bruce Rauner Stand on Pension Reform?

When talking pensions on the campaign trail early in 2014, Bruce Rauner said that new hires, current workers and retirees all would need to be on the receiving end of pension benefit cuts. But Rauner has softened that stance in recent months; the Illinois governor now says the benefits accrued by current workers and retirees need to be protected. From ...
Bruce_Rauner_August_2014

Questions Surround Bruce Rauner’s Pension Proposal, But Rauner To Be Mum on Specifics Until Court Ruling

Illinois’ pension reform law currently sits in legal limbo. But if the Supreme Court deems it unconstitutional, all eyes will shift to Illinois Gov. Bruce Rauner, who will need to propose a new solution to the state’s pension woes. On the campaign trail, Rauner supported a plan to shift workers into a 401(K)-style plan. He has since softened his ...
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