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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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Bruce Rauner Named Most Important Player in U.S. Pensions

Institutional Investor magazine has released its list of the 40 most influential people in U.S. pensions. Topping the list is the man who now governs a state with one of the worst pension problems in the country: Bruce Rauner. From Institutional Investor: Republican Bruce Rauner, the victor over Democratic incumbent Pat Quinn in the recent Illinois ...
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For Bond Buyers, Illinois is “Problem State” Until Pension Limbo Resolved

Illinois has been in a state of pension limbo since July, when a state Supreme Court ruling on healthcare premiums hinted that the state’s pension reform law would be struck down by the courts. Now, bond buyers are watching closely how the Supreme Court rules on the state’s pension reform law – but until then, investors are marred in “uncertainty” ...
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Fast-Tracking of Illinois Pension Case Could Be Blocked

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: In ...
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Illinois Asks Supreme Court to Fast-Track Pension Reform Hearing

Illinois’ Attorney General on Thursday requested that the state supreme court hold hearings on the state’s pension reform law as soon as January and no later than March. From Reuters: Attorney General Lisa Madigan filed a motion to accelerate the state’s appeal of a Nov. 21 Sangamon County Circuit Court judge’s ruling that the law aimed ...
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Reeder: Pension Ruling Puts Illinois in a Bind

Last month, a circuit court struck down Illinois’ pension reform law, deeming it unconstitutional. Scott Reeder, a journalist who has covered politics across the country for 25 years, wrote about what could happen if the Supreme Court upholds the circuit court’s ruling in his column in the Journal Standard: Belz’s ruling sets the stage for the ...
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Bruce Rauner Softens Stance on Pension Cuts, Calls For Protection of Vested Benefits

When talking pensions on the campaign trail earlier this year, 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 this week; the Illinois governor-elect now says the benefits accrued by current workers and retirees need to be protected. The ...
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Watchdog Report: Bruce Rauner Adviser Is Triple-Dipping “Prince of Pensions”

Bruce Rauner won the Illinois governorship, in part, by campaigning as a reformer and a political outsider who would “shake up Springfield.” Rauner targeted the state’s underfunded pension systems as a prime candidate for reform in at least one campaign ad, when he noted that Illinois carries “$8,000 of pension debt for every man, woman and ...
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