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Illinois Likely Faces Long Odds on Pension Reform Ruling

In 2015, the Illinois Supreme Court will decide the legality of the state’s pension overhaul that reduced benefits of public workers. But if legal challenges to similar laws in other states are any indication, the chances of Illinois’ pension reform being upheld are slim, according to a Reuters analysis. From Reuters: Court rulings in Arizona show ...
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Second Lawsuit Filed Against Chicago Pension Changes

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 ...
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Unions Sue Over Chicago Pension Cuts

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. From the International Business Times: The law in question is scheduled to take effect in the new year and will slash pension benefits for workers and retirees ...
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Eric Madiar: Illinois Reform Law Is Unconstitutional

Eric M. Madiar, the Chief Legal Counsel to Illinois Senate President John Cullerton, has written an op-ed today opposing Illinois’ pension reform law on the grounds that the law is unconstitutional. An excerpt: Anyone following the pension reform debate knows that Illinois has long diverted the moneys needed to properly fund its pension systems to ...
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Challengers to Illinois Reform Law Seek Expedited Supreme Court Ruling

Illinois’ pension reform law, passed and signed in December, remains in a legal limbo that has parties on every side of the issue uncomfortable. As a result, the attorneys behind several of the lawsuits challenging the reform law plan to submit motions that they hope will land the case in front of the Supreme Court sooner than later. From the State ...
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S&P Threatens Illinois With Another Credit Downgrade In Wake of Pension Reform Uncertainty

In what has become an annual tradition, ratings agency S&P has threatened to further downgrade Illinois’ credit rating, whose bonds already carry among the lowest ratings in the country. The main factor, according to S&P, was the status of the state’s pension reform law, which sits in legal limbo until a court decides its constitutionality. From ...

Illinois Supreme Court consolidates lawsuits against pension reform

It could be a long time before the constitutionality of Illinois’ pension reform law is argued in the halls of the state’s Supreme Court. But now that day might come sooner than previously thought. The Illinois Supreme Court used its authority today to improve the efficiency of the legal battles surrounding the state’s pension reform law by consolidating ...

Teachers group first to challenge Illinois reform law

Illinois’ sweeping pension reform law, passed earlier this month, was bound to rustle some feathers. Now, the first lawsuit against the new legislation has been filed in the Cook County Circuit Court. The Illinois Retired Teachers Association filed a class-action lawsuit Friday challenging the constitutionality of the law, which limits cost-of-living ...

Landmark Illinois Pension Reform Signed Into Law

Illinois’ pension crisis has been decades in the making, but lawmakers for years seemed content to push the politically sensitive issue further down the road. While other states were grappling with solutions, Illinois was shorting its payments to the state’s five pension systems—or skipping them altogether. Those decisions proved costly, as the ...
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