A spokesman says Illinois Gov. Pat Quinn is happy an influential business group will help "sound the alarm" on pension reform.
The Civic Committee of the Commercial Club of Chicago released a memo Wednesday that the public-employee pension system is "unfixable." The system is underfunded by $96 billion.
"I really feel like if we put our best efforts together in a bi-partisan way between now and the 9th of January - which is the end of the legislative system - we can accomplish this important mission," State Rep. Tom Cross said. "We need to fix it. I think the sooner the better - in a bi-partisan, collaborative manner."
It also sent the Democratic governor a sharply worded letter about inaction in the Capitol. But Quinn spokesman Abdon Pallasch welcomed committee pressure on legislators to keep the program afloat.
The Civic Committee says the state also needs to increase the retirement age to 67, and annual cost of living increases need to be eliminated. They also said proposals in the General Assembly are insufficient.
Pensioners get 3% a year currently, compounded annually. The public employees union AFSCME says they'll sue if any of these proposals pass.
The "We Are One Illinois" coalition of labor unions opposing pension cuts criticized the memo for not demanding a requirement that the state pay its fair share to pension programs.
Thursday, May 16 2013 9:49 PM EDT2013-05-17 01:49:53 GMT
Mayor Emanuel will celebrate two years in office by unveiling "Elevate Chicago" on Thursday, a series of construction projects to improve Navy Pier and McCormick Place.
Mayor Emanuel will celebrate two years in office by unveiling "Elevate Chicago" on Thursday, a series of construction projects to improve Navy Pier and McCormick Place.
Monday, February 25 2013 1:41 PM EST2013-02-25 18:41:37 GMT
Just as Oscar host Seth MacFarlane set his sights on a variety of targets with a mixture of hits and misses, the motion picture academy spread the gold around to a varied slate of films.
Just as Oscar host Seth MacFarlane set his sights on a variety of targets with a mixture of hits and misses, the motion picture academy spread the gold around to a varied slate of films.
Anthony Weiner's run for a renaissance is officially on.
In running for mayor, Anthony Weiner is seeking to get past the tawdry-tweeter punch line that has dogged him since his congressional career imploded two years ago. And while he's facing an uphill sprint, his campaign...
Wednesday, May 22 2013 8:53 AM EDT2013-05-22 12:53:15 GMT
Illinois' congressional delegation has asked President Obama to add 16 Illinois counties to the list of those eligible to receive disaster aid after last month's flooding.
Illinois' congressional delegation has asked President Obama to add 16 Illinois counties to the list of those eligible to receive disaster aid after last month's flooding.
Monday, May 20 2013 5:52 PM EDT2013-05-20 21:52:14 GMT
Gov. Pat Quinn said Illinois lawmakers have a chance to make history on two fronts this month by approving a plan to fix the state's decades-old pension crisis and legalizing same-sex marriage.
Gov. Pat Quinn said Illinois lawmakers have a chance to make history on two fronts this month by approving a plan to fix the state's decades-old pension crisis and legalizing same-sex marriage.
Monday, May 20 2013 3:05 PM EDT2013-05-20 19:05:27 GMT
Former White House social secretary Desiree Rogers has been appointed to head the board of a government-supported nonprofit that promotes Chicago as a tourism and convention destination.
Former White House social secretary Desiree Rogers has been appointed to head the board of a government-supported nonprofit that promotes Chicago as a tourism and convention destination.
Republicans call them "scandals." Democrats call them "fishing expeditions." Whatever the case, the Obama administration finds itself trying to fix three big problems this week. FOX's Bret Baier reports.
Republicans call them "scandals." Democrats call them "fishing expeditions." Whatever the case, the Obama administration finds itself trying to fix three big problems this week. FOX's Bret Baier reports.
