News

Illinois’ Pension Questions Continue

Illinois’ Pension Questions Continue

The next pension bind for state lawmakers involves Chicago teachers, and it won’t involve state money.

Chicago teachers were not included in last year’s pension restructuring law, which is now in court, and Chicago schools will have to boost pension contributions by $400 million, if nothing changes.

Illinois Senate President John Cullerton (D-Chicago) says the state is not living up to its responsibility to fund Chicago teacher pensions, but there’s no chance that this problem will be solved with state money. “I don’t think there’ll be money coming from Springfield, as fair as it would be that the state start to pay, but we can’t pass that when it’s just Chicago that would support that,” he said.

He said a 1995 law obligates the state to pay into the Chicago teachers’ pension fund 30 percent of what the state contributes to the Teachers Retirement System, which is for Downstate and suburban teachers. In fact, the state contributes less than one-third of 1 percent.

Cullerton is urging Chicago teachers to look at the pension law that affects teachers Downstate and in the suburbs and agree to provisions that would limit the growth of benefits.

 

Recent Headlines

in Entertainment

Jennifer Lawrence threatens action over nude photos

jlaw

Lawrence's representative has threatened to prosecute those behind a nude photo leak affecting dozens of A-list celebrities.

in Entertainment

Family of seriously ill Joan Rivers ‘keeping fingers crossed’

joan-melissa

Joan Rivers remains in serious condition after suffering cardiac arrest.

in Entertainment

Today’s celebrity birthdays

tomlin

These celebrities will celebrate their birthdays on Labor Day.

in Entertainment

This weekend’s celebrity birthdays

diaz

A look at the celebrities who will be celebrating this weekend.

in Music

CHART TOPPERS: This week’s top pop songs

magic

LISTEN: This week's top pop songs, according to the latest Billboard chart.