Bill Brady on Pensions

Bill Brady was the only one of the 4 Gubernatorial candidates to vote for or support the latest Madigan pension reform ramp. “I think he’s naive to think a 410k system will pass,” the senator continued. “We’ve tried to pass things like that. This is $160 billion in savings. I don’t know how you walk away […]

Pension bill won’t save what sponsors promised, at least to start, Civic Fed says

A Chicago watchdog group that was a big advocate of Illinois’ recently enacted pension reform bill is out with a report saying the measure may not save nearly as much as its sponsors promised, at least to start. In a post on its website the Civic Federation of Chicago says that, while sponsors of the bill estimated state […]

Quinn budget office projects $4 billion hole by 2016

Any forecast three years into the future has more than a little wiggle room in it, and this one is no exception. Still, the bottom line in the report is pretty darned terrifying for a state that still has billions of dollars in overdue bills to pay. Specifically, the report projects that by fiscal 2016 […]

SCHOOL SUPERINTENDENTS & ADMINISTRATORS Sue to keep gold plated pensions

Read the lawsuit here _______________ YET… TOP 100 School Administrator Pensions Exceed $180,000 per year,click here. AND… over 4,767 educators have $100,000 plus annual retirement pensions- to search Heat Map click here.   This pension lawsuit is about protecting the perks of highly-compensated school administrators who don’t even work in the classroom.  Let’s examine the five superintendents and […]

What will happen if the deeper financial reviews discover the pension plan will fall way short of the $160 billion savings estimate?

By Ray Long, Tribune reporter SPRINGFIELD — When Illinois lawmakers narrowly approved major changes to the public employee retirement system last month, supporters touted the measure as saving $160 billion over 30 years. —————————————————————————————— Illinois’ chronic money woes led Wall Street to bestow upon it the worst credit rating of any state in the nation. Since […]

Heaton v. Quinn: Active and retired teachers, administrators sue to overturn pension reform law

Here is the lawsuit filed in Cook County Circuit Court that challenges the constitutionality of the pension reform bill passed on Dec. 3 by the Illinois General Assembly. The plaintiffs are teachers, retired teachers, principals and superintendents from around the state. This action had been expected ever since Gov. Pat Quinn, the suit’s main defendant, […]

Chicago is tackling the worst pension crisis in the US

By Neil Munshi and Norma Cohen Chicago is tackling the worst pension crisis in the US. But methods that got it into its bind are still used across America Since the start of this school year, Annie Stoball has been walking her nine-year-old granddaughter Kayla across four blocks to Gresham Elementary on Chicago’s South Side. […]

Top 10 Stories of 2013

As we look back over 2013, below were the top 10 stories from Champion News.  Stories #1 and #2 became national stories discussed on Fox News, Rush Limbaugh, Mark Levin, Sarah Palin and multiple other local and national news outlets. # 1 Common Core Math: 3 * 4 = 11 Video # 2 Death Panel […]

Jack Roeser Responds to the Madigan Pension Reform

Related articles: Which Republicans Sold Illinoisans Down the River on Pension Vote? SB1 Pension Reform bill – much ado about nothing State income tax hike doesn’t look so temporary now Enemy of his enemy: Conservative candidate could help Illinois governor win back unions Pension bill’s accounting gimmicks ignores $6-$8B in debt Demmer: Why I supported […]

Penalty

This week Illinois borrowed $350 million to pay for projects including roads, bridges and schools. The state issued 25-year taxable general obligation bonds, the first borrowing by Illinois since the state passed its pension “fix” in early December. But not unlike someone with a terrible credit score, Illinois must pay the highest penalty rate of the 50 states when borrowing money […]