Illinois' cash-short treasury took a surprising turn toward the black this spring. But it's an illusion, says Illinois Comptroller Judy Baar Topinka. In a statement this morning, Ms. Topinka said the state got an unexpected $1.3 billion bump in
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One goal of the 2013 spring session of the Illinois General Assembly has been to do something about the state's pension systems, underfunded by an estimated $100 billion. With a week and a half to go before the scheduled adjournment, the House and Se
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It seems counter-productive to inform state lawmakers that there are only eight days remaining in this year’s regular legislative session, and they should be spending every minute of it focusing on pension reform as time wanes. A ticking clock f
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“You’re breaking into our children’s piggy banks, stealing from kids and schools and the disabled of tomorrow. You think you can get away with it because the public doesn’t understand.” Those are the words of then-Sen. Dan Cronin, R-Elmhurst, du
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Gov. Pat Quinn on Monday put a finer point on a notion he's been pushing this spring: No gambling expansion will happen without comprehensive changes to fix a greatly underfunded government worker pension system. The Democratic governor also ins
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Illinois debt is rallying the most since 2011 as investors bet lawmakers will end two decades of inaction and pass a measure to fix the worst-funded U.S. state pension system. With 11 days left in the budget session, each legislative chamber has
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SPRINGFIELD, Illinois — The Illinois General Assembly has just two weeks left in Springfield before it adjourns for the summer, leaving lawmakers with a tight deadline for action on issues including tackling the state's pension crisis, gay marriage a
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Although delayed payments from the state are to be expected these days, university officials say the predictability doesn’t make it any easier. Nearly 11 months into this fiscal year, which ends June 30, Illinois’ nine public universities have r
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Our view: By focusing on broad goals, our state’s leaders can compromise and create an effective and fair pension reform program. It won’t be easy, but there is a good chance of Illinois having a workable and equitable public employee pension re
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SPRINGFIELD— As Illinois lawmakers weigh a pair of competing pension reform plans this spring, a big factor they're considering is how much each approach would save the beleaguered state treasury. Illinois already spends more on government worke
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Sometimes it’s good to spell things out and create lists, so I’m going to try a bit of that today in an attempt to help more of us understand why we should be actively engaged in pushing our state legislators to do something to resolve the state’s $1
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SPRINGFIELD — Less than half of the money from Illinois’ primary road construction fund was spent directly on highway construction, repairs and improvements over the past decade, according to an audit released Tuesday. Auditor General William Ho
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Last week was a good example of why important legislation often stalls in Illinois. As expected, the Illinois Senate approved a pension reform package backed by Senate President John Cullerton. The vote was 40-16; Tim Bivins, R-Dixon, was one of
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We arrive here, in the middle of May, with momentum building for real public pension reform but still with it being anyone’s guess whether anything meaningful will happen. The Illinois House has passed one plan. The Illinois Senate has passed an
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We hope “Twilight” fans won't mind if we borrow the Team Edward and Team Jacob meme, but in the equally lurid, adolescent and bloody Illinois pension drama, we are decidedly Team Mike. House Speaker Michael Madigan earlier this month pushed thro
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The Illinois Senate pushed through its version of a pension reform proposal Thursday, setting up a potential stalemate with the House just three weeks before lawmakers are scheduled to go home for the summer. As Senate President John Cullerton h
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SPRINGFIELD — Although state legislators have passed two pension reform proposals this spring, the plans are so dissimilar that lawmakers seem to be no closer to a solution for the state's $100 billion pension liability today than they were months ag
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It is hard to imagine the state of Illinois could sink any lower. But it could. And it will if the meager pension cost-cutting bill passed by the Illinois Senate on Thursday becomes law. Legislators should bury this bill before the st
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There's a time in life to keep your head down and quietly push ahead, trusting that progress is being made. And there's a time to take a risk in the name of boosting your odds of success. Such a time has arrived for Gov. Pat Quinn, a good-hearte
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Gov. Pat Quinn says House Speaker Michael Madigan’s pension-reform plan deserves a Senate vote. The Democratic governor said the proposal is comprehensive. Illinois has nearly $100 billion in pension debt because of years of state underfund
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The Illinois legislative effort to repair the nation’s worst-funded pension system moved closer to a showdown as the Senate passed a restructuring measure endorsed by public-employee unions. The bill, approved today by a vote of 40 to 16 i
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SPRINGFIELD — Senate President John Cullerton today sent his version of pension reform to the House, setting up a high-profile clash with the rival plan Speaker Michael Madigan already pushed through the House. The showdown puts more than
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The Illinois House of Representatives passed a pension-overhaul plan Thursday that would cut retiree benefits and increase required employee contributions, in the biggest move yet toward addressing the nation's worst state-pension crisis.
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If lawmakers would have listened to Illinois Comptroller Dan Hynes 11 years ago, Illinois might not be in the fiscal mess it is in today. In 2002, the state’s bill backlog was “only” $1.2 billion in bills due and people doing business with the s
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SPRINGFIELD— Senate President John Cullerton on Monday rolled out his latest proposal aimed at fixing the state's heavily indebted pension system, striking a deal with unions just days after House Speaker Michael Madigan pushed through a plan that's
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SPRINGFIELD, ILL. — Senate President John Cullerton announced Monday his chamber will move forward with a new union-backed pension reform proposal he says will save Illinois money and is at less risk of being tossed out by the courts than a plan appr
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CHICAGO, May 5 (Reuters) - Now that the Illinois House of Representatives has passed a plan to repair a state pension system underfunded by $100 billion, attention is turning to the meaning of three words in the Illinois constitution: "diminished or
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Now that the Illinois House has passed a comprehensive pension reform plan, the Senate is back in the crosshairs of the debate. When the Senate last dealt with pensions, way back in March before the spring break, it approved a bill dealing only
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SPRINGFIELD— For years, the big debate about reforming the state's heavily underfunded pension system has centered on how many billions the state could save and how much money retirees might lose. But the proposal the House passed last week also seek
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In early 2002, former Illinois Comptroller Dan Hynes warned about the deteriorating condition of state finances. A recession was cutting into state revenues. The state would end the 2002 fiscal year with less revenue than the year before,
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CHICAGO -- Illinois Gov. Pat Quinn has released his 2012 federal and state income tax returns, which show the only money he earned was his governor's salary of $160,421 and a taxable refund of $1,203.
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As the top state official overseeing the Illinois Lottery, records show, Michael J. Jones has: ◆ Tried to get the private company that runs the lottery to hire his daughter’s ballet company for a promotion. ◆ Hired a consultant who got mor
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State officials want to make changes to Medicare supplement coverage for state retirees that they say will save money and still provide similar coverage to what is now available. Some legislators, though, are questioning the state’s approach and
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Both the House and Senate have now reached a sort of halfway point in the spring session, at least as the legislative process is set out in high school government class. Yes, anyone who spends more than five minutes around the General Assembly k
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Tomorrow is the first day of May. The Legislature is scheduled to complete its major work for the year on May 31st. Our elected officials have little more than four weeks, or 31 days, to find a way to consensus and compromise on the biggest challenge
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There’s about a month to go for the Illinois General Assembly to complete its business — and there’s a lot of business to do if the state is going to shed its image as a deadbeat. One of the reasons Illinois is in such dire financial straits is
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(CBS) — Retire at 50 and collect more than $100,000 a year – that’s the plan for a special group of state workers. Some members of the Illinois State Police can end up collecting millions of dollars, according to a study by Taxpayers United of A
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Illinois lawmakers who are grappling with state pension reform do not appear to be getting much help from their constituents. According to a new Crain's/Ipsos Illinois Poll, public support seems to be slipping for proposals to force government w
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CHICAGO -- Another governor is trying to lure away Illinois companies. Florida Gov. Rick Scott sent a letter to Illinois' top 100 companies this week asking them to buy a "one way" ticket to Florida. The Republican says Florida is undergoi
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The panelists at times struggled to find common ground, and the deep divide between stakeholders on how to fix the pension funding crisis was painfully evident. But a pension reform forum sponsored Wednesday by the Daily Herald and the nonpartis
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Hey, did you see the story about Texas Gov. Rick Perry visiting Illinois and trying to lure businesses to the Lone Star State? Geez, some nerve that guy Perry has. Talk about chutzpah! The Texas Republican is lucky some tough guys in Chica
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The deadline for filing our taxes marked the beginning of last week. However, a more significant tax event should have grabbed the attention of Illinois legislators. In the municipal elections earlier this month, taxpayers delivered a clea
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Like an aging rocker, Texas Governor Rick Perry is currently on the 2013 I’m Coming For Your Jobs tour across America. His first stop: California a couple months ago. This week he’s in Illinois, where he got a nasty reception from public officials. T
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Laugh all you want about Texas Gov. Rick Perry's campaign to recruit businesses from Illinois to the Lone Star State. We don't know whether Perry will succeed in prompting a commercial exodus from the Land of Lincoln to the land of droughts, fire ant
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Pension reform will require tough decisions, State Rep. Pam Roth (R-Morris) and State Sen. Sue Rezin (R-Morris) said Monday at a pension forum at Saratoga Elementary School. Along with State Representatives Elaine Nekritz (D-Buffalo Grove)
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The tentacles of Illinois’ breathtakingly massive debt load continue to reach further into the lives of ordinary Illinoisans. For some time, the state’s pension crisis and unpaid bills affected mainly state workers and retirees. Then it be
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Members of the Illinois House, back in their home districts this week, have 25 days remaining in the spring session, and a lot on their plates. There’s public pension reform, concealed carry legislation, and a potential gaming expansion. L
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If the purpose of tonight's sold-out forum on pension reform could be reduced to a single phrase, it would be this: Let's talk. The forum, co-sponsored by the Daily Herald and Reboot Illinois, will feature a diverse audience made up of tea
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Texas Gov. Rick Perry's bold sales pitch to Illinois businesses — through ads on ChicagoBusiness.com, among other outlets — got me wondering about this entrepreneur's paradise he's touting. To hear the governor tell it, there's not much reason t
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As Illinois struggles with the hard decisions necessary to stay afloat financially, we must remember that a budget reflects our priorities and shapes our future. Understanding this, surely our single most important investment must be the educati
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