By Mike Flannery, FOX 32 News Political Editor - bio
CHICAGO (FOX 32 News) -
After months of secret discussions, 19 Illinois House members Wednesday plan to offer their solution to the state's worst-in-America public employee pension crisis.
Sources gave some details to Fox 32 News. They said it would offer new long term pension guarantees to suburban and Downstate teachers, as well as to state employees. But it would require them to pay an additional two percent of their salaries and would raise the retirement age by one to five years. The biggest source of savings for taxpayers, though, would be a proposed reduction in annual cost of living raises. Under the current system, state government pensions double in about 20 years. It's a big reason Illinois taxpayers now face an unfunded pension liability of up to $140 billion or more.
An advisory about Wednesday's 10 a.m. Springfield news conference in the State Capitol identified Northbrook's Democratic Rep. Elaine Nekritz as a prime mover of the proposal.
Among co-sponsors in the House:
Rep. Daniel Biss, D-Evanston; Rep. Kelly Burke, D-Oak Lawn; Rep. Bill Cunningham, D-Chicago; Rep. Sara Feigenholtz, D-Chicago; Rep. Robyn Gabel, D-Evanston; Rep. David Harris, R-Mt. Prospect; Rep. Greg Harris, D-Chicago; Rep. Karen May, D-Highwood; Rep. Chris Nybo, R-Lombard; Rep. Ann Williams, D-Chicago; Rep. Mike Zalewski, D-Summit.
The proposal would impact pensions paid to suburban and Downstate teachers by the Teachers Retirement System; to members of the General Assembly Retirement System; to higher education employees by the State University Retirement System and to rank and file state workers by the State Employees Retirement System.
A source said the group of 19 legislators hope the Illinois House will vote on their pension reform proposal in the first few days of 2013. The lame-duck General Assembly will convene Jan. 3rd. Newly-elected members of the House and Senate are scheduled to be sworn in at noon on Jan. 9th.
Monday, February 25 2013 1:41 PM EST2013-02-25 18:41:37 GMT
Just as Oscar host Seth MacFarlane set his sights on a variety of targets with a mixture of hits and misses, the motion picture academy spread the gold around to a varied slate of films.
Just as Oscar host Seth MacFarlane set his sights on a variety of targets with a mixture of hits and misses, the motion picture academy spread the gold around to a varied slate of films.
Tuesday, February 5 2013 3:09 PM EST2013-02-05 20:09:54 GMT
Millions and millions of people tuned in to watch the Super Bowl, and including our friends serving overseas. Thousands of Chicago-style pizzas were sent overseas Tuesday.
Millions and millions of people tuned in to watch the Super Bowl, and including our friends serving overseas. Thousands of Chicago-style pizzas were sent overseas Tuesday.
Amid lingering concerns about his national security policies, President Barack Obama is outlining measures to clarify the deadly use of drones against terror suspects.
President Barack Obama sought Thursday to advance the U.S. beyond the unrelenting war effort of the past dozen years, defining a narrower terror threat from smaller networks and homegrown extremists rather than the grandiose...
Thursday, May 23 2013 4:36 PM EDT2013-05-23 20:36:47 GMT
The Obama administration has picked a private attorney and former federal prosecutor to head the U.S. attorney's office in Chicago, U.S. Sen. Dick Durbin announced Thursday.
The Obama administration has picked a private attorney and former federal prosecutor to head the U.S. attorney's office in Chicago, U.S. Sen. Dick Durbin announced Thursday.
Thursday, May 23 2013 2:18 PM EDT2013-05-23 18:18:06 GMT
Illinois legislation allowing public possession of concealed guns has passed the House Judiciary Committee. It was a compromise backed by Speaker Michael Madigan.
Illinois legislation allowing public possession of concealed guns has passed the House Judiciary Committee. It was a compromise backed by Speaker Michael Madigan.
Anthony Weiner's run for a renaissance is officially on.
Anthony Weiner knows there may be a lot of New Yorkers who would never consider voting for him again, but he says he's running for mayor because he wants to bring his ideas to the fore - and win.
Wednesday, May 22 2013 6:45 PM EDT2013-05-22 22:45:07 GMT
Illinois public schools that teach sex education will have to include information about contraception and sexually transmitted diseases instead of a curriculum focused on abstinence.
Illinois public schools that teach sex education will have to include information about contraception and sexually transmitted diseases instead of a curriculum focused on abstinence.
