Posts tagged "pensions"

What you need to know from Gov. Quinn’s budget address

What you need to know from Gov. Quinn’s budget address
In his budget address Wednesday, Gov. Pat Quinn went over his top budget priorities for fiscal year 2014. He placed the speech’s main focus on the state of underfunded pensions. In case you missed the speech, we’ve pulled out some of the key statements. Public sector pensions Quinn stressed that some public employees would no... Read more »

Sen. Jacqueline Collins on Springfield, race and Obama

Sen. Jacqueline Collins on Springfield, race and Obama
If you ride the 79th street bus, heading west from the Red Line, you pass empty lots, run-down strip malls and boarded-up Pentecostal churches that have seen more worshipful days. But then you get to a small oasis of activity–a Walgreens, a Chase bank, a beauty salon and a steady hum of foot traffic despite the cold.... Read more »

What's up this week: Pension pinch, special session called in Springfield, little expected out of it

What's up this week: Pension pinch, special session called in Springfield, little expected out of it
State lawmakers will convene in Springfield on Aug. 17 for a one-day special session called by Gov. Pat Quinn to persuade them to pass “comprehensive” pension reform legislation. Little is expected to come of the one-day session, though. Democrats likely don’t want to pass legislation that will upset unions and labor organizations–big campaign donors–during an... Read more »
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Race, poverty and politics: Chicagoland foreclosures spike; public grumbing over River Point TIF; Quinn says pension costs could surpass state's education spending

Chicago-area foreclosures in July were 37 per cent higher than they were a year ago. Citing RealtyTrac data released Thursday, The Chicago Tribune reported that 11,885 homes in Cook, DuPage, Kane, Kendall, Lake, McHenry and Will counties were in some stage of foreclosure last month: 5,374 entered the foreclosure process; 3,274 were scheduled for a... Read more »

Race, poverty and politics: Health exchange in limbo; subsidized child care at risk; Obama supports gay marriage; TIF reform?

The Illinois General Assembly is not expected to make any moves to create a state-run health care exchange, Crain’s reported on Thursday. Sources on both sides of the aisle in the statehouse said the inactivity is due to the pending Supreme Court decision on the constitutionality of the President Barack Obama’s sweeping health care law.... Read more »

Politics in review: Medicaid cuts, pension tweaks, cracking down on fugitives, speed cameras

Here’s a week’s worth of political news corralled by the good folks at The Chicago Reporter: After he called for $2.7 billion in Medicaid cuts  in his February budget speech, Governor Pat Quinn finally released the details of his “save Medicaid” plan Thursday.  Cuts to the program, which provides healthcare for some 2.7 million needy... Read more »
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News Roundup: Jobs program extension keeps thousands employed over the holidays

As unemployment benefits start to run out, Gov. Pat Quinn announced yesterday that he is extending the “Put Illinois to Work” program, which has employed 26,000 Illinoisans, until Jan. 15. The extension was paid for with $47 million from the $1.3 billion sale of tobacco bonds, which are backed by payments the tobacco companies make... Read more »

News Roundup: Chicago pensions could be insolvent

Chicago’s pensions are facing insolvency based on the city’s current and projected obligations, Chicago Tribune reported today. Firefighters, teachers, police officers and other city workers might find themselves in financial dire straits upon their retirement due to a draining of the system to meet short-term budget needs. Among the costly decisions made by city officials... Read more »