Illinois Supreme Court Pension Ruling May Not Affect Chicago Reforms, Say Lawyers

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 reforms, a lawyer for the city said Wednesday. From ...

Illinois Unions Challenging Reform Law Ask Supreme Court to Slow Down

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 say they need more time ...

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 ...

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 ...

Video: Update on Illinois Pension Lawsuit

Here’s a discussion with attorney Aaron Maduff, who is representing the State Universities Annuitants Association in their lawsuit against Illinois’ pension reform law. Maduff gives us a recap and update on the high-profile pension lawsuit, and an idea of what we can expect in the coming months.

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 ...

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” ...

Illinois Supreme Court Expedites Pension Reform Appeal

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 January ...

“Everybody’s Not Going To Retire At The Same Time”: Actuary Evaluates Former Illinois Governor Edgar’s Pension Comments

  Last month, former Illinois governor Jim Edgar gave his thoughts on the state’s pension situation. He notably said he didn’t support the state’s pension reform law, and said the following: “I don’t think also you have to have 100 percent funding in the pension plan. Everybody’s not going to retire at the same time. I think you can ...

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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