Cullerton to CPS teachers: Give up benefits or risk ‘thousands’ of layoffs

From the Chicago Sun-Times: Chicago Public Schools’ teachers will need to give up some benefits during upcoming pension system negotiations, or run the risk of “thousands and thousands” of layoffs, Illinois Senate President John Cullerton, D-Chicago, said Monday. ————————————————————- “Chicago Public Schools have a problem and we need to act now,” Cullerton said. “I know […]

Rahm Emanuel Wants Springfield to Raise Property Taxes

With the city of Chicago facing a pension crisis of their own, Mayor Rahm Emmanuel is looking to Springfield for help. He wants the Michael Madigan and John Cullerton to get the legislature to raise property taxes so he doesn’t get the blame. Last Friday, the mayor held a 2.5-hour meeting with the Illinois House […]

Our view: Pension bill doesn’t solve state’s problems

From the Northwest Herald: [emphasis mine] If the pension reform bill passed Tuesday by the Illinois General Assembly was a first step in a series of reform measures still to come, we’d hail it as a small victory for taxpayers and the state. Unfortunately, we fear that in the minds of Gov. Pat Quinn, Speaker […]

The Wrong Deal for Illinois

This Tuesday a group of Springfield insiders, many of whom caused the pension crisis with decades of bad deals and giveaways, will try to rush through a pension deal without giving Illinoisans an opportunity to study the details. They want us to trust them. We don’t – and can’t. In the early 1990’s, Senate President John […]

Why The Latest Pension Reform Proposal is Bad for Taxpayers

Here is the summary (the actual bill details won’t be released until Monday): Funding schedule and method for certifying contributions: Establishes an actuarially sound funding schedule to achieve 100% funding no later than the end of FY 2044. Contributions will be certified using the entry age normal actuarial cost method (EAN), which averages costs evenly over […]

Republicans MUST Refuse to Vote on Madigan Pension “Reform”

The Legislature is planning to vote on so called Pension “reform” on Dec 3rd. The details of the plans have not been released but there have been a few leaks which include: Changing the COLA to some variation of CPI (Consumer Price Index) Calculating the COLA based on a capped years of service formula (Radogno […]

Pension reform trial balloon?

Illinois made its first legislative moves to address the funding crisis in public pensions by passing a bill that changes the Chicago Park District fund. The move may be a legislative trial balloon regarding the constitutionality of reducing benefits to public pensions. According to an amendment fact sheet circulated by House Speaker Mike Madigan’s office, […]

Illinois Pension Debt not a ‘crisis': Is John Cullerton in Complete Denial?

Senate President John Cullerton told the Chicago Tribune: Illinois Senate President John Cullerton said Sunday that the state’s massive public employee pension debt is not a “crisis,” but instead an issue being pushed by business-backed groups seeking lower income taxes at the expense of retiree benefits. Is Cullerton is in complete denial of reality?  Or is this just […]

Dillard’s union PAC receipts outpaced even Democratic Senator John Cullerton

Most surprising is that Dillard’s union PAC receipts outpaced even Democratic Senator John Cullerton, who is widely seen as the leading union supporter and a major obstacle to real pension reform.  

The Family Business

Illinois House Speaker Michael Madigan and Senate President John Cullerton on Tuesday filed a lawsuit against Gov. Pat Quinn, alleging the veto power he used earlier this month to suspend lawmakers’ pay was unconstitutional, and called him mean names, like ‘Blagojevich’. To which, Quinn whimpered back, “This is just plain wrong.” This dram-edy is the legislative […]