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Arguments in Illinois Pension Lawsuit Begin Wednesday

It’s been nearly 15 months since Illinois’ pension overhaul was passed, and 13 months since the first lawsuits began rolling in. Now, the state and its public workers are finally squaring off in the halls of the state Supreme Court. Arguments over the constitutionality of the law, SB-1, begin on Wednesday. From the Chicago Tribune: More than a ...
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Chicago Pension Lawsuits Put on Hold Pending Supreme Court Ruling

Two lawsuits, both challenging the legality of recent pension reforms enacted by Chicago, have been put on hold until the Illinois Supreme Court rules on the state’s pension overhaul. The plaintiffs filed the motion to put the lawsuit on pause, and it was approved on Thursday. More from Reuters: Lawsuits seeking to void a law aimed at shoring up ...
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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 ...
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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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Pennsylvania Republicans: State Pension Reform Is “No. 1 Issue” in 2015

Pennsylvania Gov. Tom Wolf, in stark contrast to his predecessor Tom Corbett, has been adamant that he is not on board with any sweeping changes to the state’s pension system – particularly the switch to a 401(k)-style system favored by many of the state’s Republican lawmakers. But House Republicans re-iterated last week that pension reform remains ...
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San Diego Settles 12-Year-Old Pension Lawsuit

San Diego has settled a long-running lawsuit claiming that the city’s pension rules discriminate against single people. The City Council approved the settlement, which will see the city pay $68,000, on Tuesday. More on the suit from the San Diego Union-Tribune: The litigation, which has spanned two federal lawsuits and one at the state level, claims ...
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On Pensions, Chicago Mayoral Candidates Mum on Specifics

On Friday, Chicago’s five mayoral candidates debated in front of the Chicago Sun-Times Editorial Board, seeking the newspaper’s endorsement. Pensions was among the first issues to come up – and while everyone agreed that Chicago’s pension debt needs to be tamed, the candidates were largely mum on specific ways to accomplish that goal aside ...
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$700 Million in New York Pension Payments Go to Florida Retirees

If you want a sense of how many New Yorkers move to Florida in their retirement years, look no further than this number: $708 million. That’s how much New York’s pension system paid out to Florida residents in 2014; the number represented 7 percent of the system’s total benefit payout. More from Bloomberg: Florida is luring more than just New ...
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Nevada PERS Pokes Holes in Study Claiming Public Pensioners Make More in Retirement Than They Did On Job

Officials from the Nevada PERS are disputing a think tank report that claimed public pensioners were making more money in retirement than they did while working. The report was produced by the Nevada Policy Research Institute. But Nevada PERS says the findings were based on a small sample size that renders the results meaningless. From the Las Vegas ...
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San Bernardino Bankruptcy Plan Will Impair Bondholders, Not Pensions, Says City Lawyer

The attorney for the bankrupt California city of San Bernardino on Thursday said that pensions would not be altered in the course of the city’s bankruptcy. The statement was important, because it was the first official word from the city that pensioners would be given much higher priority than its bondholders. Observers are watching San Bernardino ...
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