Universities agree to slowly pick up pensions

SPRINGFIELD, Ill. | Illinois' state universities and community colleges have agreed to gradually start picking up their own retirement costs under a preliminary deal that emerged at a public hearing Thursday, a step forward on a concept that's been debated by lawmakers for more than a year.

Lawmakers inch along on pension reforms

SPRINGFIELD, Ill. | State lawmakers inched along Thursday with ideas aimed at solving Illinois' nearly $100 billion pension crisis as three different proposals — including a bipartisan plan — saw movement.

Cullerton wants votes on pensions and gay marriage

CHICAGO | Illinois Senate President John Cullerton said Monday that he'll push forward with a pension overhaul "as quickly as possible" and that the timing is right to legalize gay marriage and possibly expand gambling, previewing what could be a packed spring legislative session.

S&P lowers Illinois credit rating, blames pensions

CHICAGO | Standard & Poor's has lowered Illinois' credit rating due to concern over the state's failure to address its $96 billion pension fund deficit.

Frustrated Illinois lawmakers pitch pension fix

SPRINGFIELD | Rank-and-file lawmakers frustrated by slow progress and finger-pointing offered their own solution to Illinois' multibillion-dollar pension crisis Wednesday, saying legislators need to take a new approach before the state is sent into "financial oblivion."

Reaction to Ill. governor's pension reform site varies

CHICAGO | Reaction to Gov. Pat Quinn's online campaign to excite Illinoisans about pension reform is prompting scathing criticism, mock Facebook and Twitter sites and some praise.

Lawmakers may cap wage increase for state workers

CHICAGO | Warning of unprecedented fiscal woes, Illinois lawmakers put public-sector unions on notice Thursday that they are considering a measure to cap wage increases.

Despite big gains, Democrats still want GOP help on pension revamp

SPRINGFIELD | Despite making big gains in Tuesday’s balloting, Democratic leaders say they’ll still need Republican support when it comes to fixing the state’s pension mess.

Illinois pension benefit amendment fails

CHICAGO | A proposed amendment to the Illinois Constitution that would have made it more difficult to expand public employee retirement benefits has failed.

Chicago mayor vows full court press on pensions

CHICAGO | Chicago Mayor Rahm Emanuel says he will expend as much political capital as necessary to push for pension reforms, but that lawmakers in Springfield need to "get in gear."

Teacher pension costs expected to surge

SPRINGFIELD | In a move that could blow an even bigger hole in next year’s budget, the state’s largest employee pension system Friday lowered its expected rate of return on investments.

In video, Kirk urges action on Ill. credit rating

SPRINGFIELD, Ill. | Sen. Mark Kirk has released a video calling for "decisive bipartisan action" to prevent further reductions in Illinois' credit ratings.

Quinn unhappy pensions may wait until next year

SPRINGFIELD | The chances of quick action on Illinois' pension problems are growing slimmer.

Quinn already has a website devoted to pension overhaul

SPRINGFIELD | Anyone wondering what Gov. Pat Quinn might do to rally support for an overhaul of the state’s pension systems need look no further than the governor’s own website.

Quinn taking page from populist playbook for pension fix

SPRINGFIELD | From trying to make it easier for citizens to amend the state constitution to ginning up opposition to an electric rate increase, Illinois Gov. Pat Quinn has spent decades cultivating a populist image.

Questions loom ahead of lawmaker pensions session

CHICAGO | Gov. Pat Quinn insists lawmakers can fix the state's most urgent financial problem by passing a major pension overhaul in a single day.

Jones not likely to support pension reform proposals

CALUMET CITY | State Rep. Thaddeus Jones, D-Calumet City, said he won't vote in favor of the pension reform proposal before the Legislature when it convenes Friday but will likely support expelling a member who faces federal bribery charges.

Vote on Illinois state pension reform will be held

SPRINGFIELD, Ill. | State lawmakers will vote on reforms to trim public sector pension costs when they return to Springfield for a special session this month, but the legislation is limited in scope and does not include one of Gov. Pat Quinn's key proposals for addressing Illinois' most seri…

Madigan pension fix could take local tax dollars

SPRINGFIELD | An Illinois House panel is scheduled to discuss a plan today that could divert more than a billion dollars from local governments to help plug a hole in the state’s underfunded teacher retirement system.

Emanuel urges Ill. lawmakers to act on pensions

SPRINGFIELD, Ill. | Chicago Mayor Rahm Emanuel brought his clout and high profile to the public pension debate Tuesday by advocating money-saving changes to city retirement plans and — importantly for Gov. Pat Quinn — shining a light on similar troubles at the state level.