SUBSCRIBE to Capitol Fax      Advertise Here      Mobile Version     Exclusive Subscriber Content     Updated Posts    Contact
CapitolFax.com
To subscribe to Capitol Fax, click here.
Quinn to do a drop-by at pension summit

Monday, Feb 11, 2013

* I’m told that Gov. Pat Quinn will drop by today’s pension reform summit, which was called by organized labor. He won’t attend the whole event, but he has sent a couple of people in his stead, Gary Hannig and Jerry Stermer. The governor’s office stresses that Quinn and his staff have met with the unions “numerous times” over the past year.

Senate President John Cullerton is sending people today as well, but Speaker Madigan is not. House GOP Leader Tom Cross will attend today…

Illinois House Republican Leader Tom Cross will be available for questions from the media after the “We Are One Illinois” Pension Summit this afternoon. The Summit is being held at 1 p.m. at the Illinois AFL-CIO offices in Burr Ridge, 999 McClintock Drive, Suite 100. Cross will be available outside those offices immediately following the meeting.

* In related news, Finke had a very good piece over the weekend on pension reform

“Of principle concern to the Commission is the accumulation of large unfunded accrued liabilities resulting for the most part from the inadequacy of government contributions in prior years to meet increases in costs due to the upward trend in salary rates and large additions to the membership of the funds.”

That could have come from any number of studies in recent years about funding problems facing public employee pension plans in Illinois. But it didn’t. That warning was part of a report by the Illinois Public Employees Pension Laws Commission to Gov. William Stratton … in 1959.

Go read the whole thing. Some interesting items

“Then, during the Thompson administration, they came up with this proposal that they felt they really don’t need to contribute even this 100 percent of payout because there’s been good years of investment return,” Goldstein said. “Because of that, they proposed they would only pay 60 percent of the payout.

And

The Civic Committee of the Commercial Club said Edgar’s approach “was structurally flawed from the beginning.” Not only was the payment plan backloaded, it wasn’t based on actuarial requirements. Consequently, pension debt continued to balloon.

And

Full funding assumes that all workers will retire at one time and the state will have to pay their pension benefits.

“You never have to pay all the benefits promised (at once),” Martire said.

* And the Tribune panics

Lawmakers have stalled on fixing this mess. They didn’t even meet for more than a few hours the entire month of January. February doesn’t look much better: The House meets for only nine days; the Senate is in Springfield only eight days. But the members rack up pension credit regardless of whether they’re in Springfield.

They’ve “stalled” for decades.

* Related…

* Tom Kacich: Pension mess not Quinn’s fault

* Prison officers ‘not the enemy’ in state pension battle

* Deadbeat Illinois: State falling behind on burial expenses, too

* Unionized prison employees picket at Menard

- Posted by Rich Miller        


13 Comments
  1. - Loop Lady - Monday, Feb 11, 13 @ 11:36 am:

    Pretty arrogant of Madigan, but I’m not surprised.

    He could at least send a surrogate.


  2. - PublicServant - Monday, Feb 11, 13 @ 11:43 am:

    ===He could at least send a surrogate.===

    Darth Vader was not available.


  3. - wishbone - Monday, Feb 11, 13 @ 11:50 am:

    Why the Republicans can’t make the case that they would do a better job than the Democrats (my party) of handling this problem is a complete mystery to me. If only they did not waste their efforts trying to roll back the clock on social issues they have no control over they might just fashion a majority party based on fiscal responsibility. Nah.


  4. - rusty618 - Monday, Feb 11, 13 @ 12:59 pm:

    If Quinn and his staff have meet with the unions “numerous times” over the past year, why have these meeting not been publicized, and why have they not even considered any of the union’s proposals? Everything Quinn or the GA comes up with seems to be unconstitutional.


  5. - Under Paid - Monday, Feb 11, 13 @ 1:28 pm:

    “Why the Republicans can’t make the case that they would do a better job than the Democrats (my party) of handling this problem is a complete mystery to me.”

    The answer to the question seems simple to me. The Republicans, and the Democrats, have three basic options to solve the problem:

    1 - They could cut pensions. This option appears to have major legal problems so it is not one consider any more.
    2 - Raise taxes. For a Republican this option is ‘dead on arrival’. The tax increase required to solve the problem would cause the Republican base to revolt.
    3 - Cut spending in other parts of the state budget. This works for Republicans until the numbers come out. As the cuts will need to cover the entire load of pension reform they will need to be so deep that members of both parties will gasp. The program cuts, layoffs, closed facilities, etc. will create lots of negativism in the taxpayers (aka voters) toward anyone who votes for it.

    If I was a leader of the Republican party I would let the Democrats take the heat when the solution is put forward. I might then gain more votes for myself at little or not cost to myself.


  6. - TwoFeetThick - Monday, Feb 11, 13 @ 1:39 pm:

    === If I was a leader of the Republican party I would let the Democrats take the heat when the solution is put forward. I might then gain more votes for myself at little or not cost to myself.===

    ‘Cause that strategy has worked out just swimmingly for Republicans so far. Why, they have almost 20 members in the Senate!

    If they would put together a thoughtful, alternative proposal on, well, anything, perhaps people wouldn’t be voting them into oblivion.


  7. - Cincinnatus - Monday, Feb 11, 13 @ 1:59 pm:

    I’ve long been a proponent of the idea that the Republicans should introduce bills with their ideas outlined, even if those bills die in committee or on the floor. BUT, notice that Congressional Republicans have done just that on the budget, and for 1400 days the Democrat Senate has not passed a bill, yet somehow Republicans are to blame. So it really becomes an issue where the media refuses to hold certain parties responsible. Damned if you do, damned if you don’t…


  8. - Liberty_First - Monday, Feb 11, 13 @ 2:33 pm:

    Underpaid- they could also amortize the unpaid debts over a longer period of time. The quest to take a 40% funded system to 100% funding in 30 years to save on bond rates is simply not possible without screwing pensioners.


  9. - walkinfool - Monday, Feb 11, 13 @ 3:09 pm:

    When are we going to stop rehashing the history? All the people working on this know all of that already.

    Let’s just talk proposed, realistic solutions.

    The only way good Republican ideas on pensions will become bills, is when Nekritz or Cullerton take them,(as they already have), and put them in their own bills. The reluctance of individual GOPers (other than Fortner), to formally stand up for their own ideas on this issue, has been curious to me.

    Perhaps it’s just risk avoidance, since every piece of every solution angers some big constituency.


  10. - Under Paid - Monday, Feb 11, 13 @ 3:25 pm:

    “The quest to take a 40% funded system to 100% funding in 30 years to save on bond rates is simply not possible without screwing pensioners.”

    Any major change to what is paid to current pensioners and those who are currently working for the state runs into constitutional issues. My guess is that the pensioners and current workers would win in the courts if any type of major change was approved.

    Some very minor changes might be possible if they done with great care. The problem is that minor changes may not save much money for the pension systems. In addition, the unions would fight hard in the courts against any change of any type no matter how minor. The minor changes, if they come, would also not appear for years because of the court fight. In addition, at least some Democrats would have to vote for any type of changes. That probably would cause lots of unhappyness with one of the largest block of their current backers (people who are active party workers, campain donors, voters, etc.).

    I do not see the pensioners or the current workers putting in any major amount of money to reform the pension system.


  11. - Nickypiii - Monday, Feb 11, 13 @ 3:56 pm:

    AFSCME has already volunteered to increase employee contributions by 2% only if and when the State legislature agrees to never again short the States required pension contributions. This union idea is the only proposal so far that will pass Illinois’s Constitutional requirement of undiminished pension benefits.


  12. - titan - Monday, Feb 11, 13 @ 4:14 pm:

    @Nickypm - not necessarily…requiring increased contirbution for the same old previously promised benefit is a “diminishment”, so it might not pass muster.


  13. - Anonymous - Monday, Feb 11, 13 @ 5:52 pm:

    Read “Quinn to do drive-by” instead of “Quinn to do drop-by”.


Sorry, comments for this post are now closed.


* Reader comments closed for the holiday weekend
* Question of the day
* *** UPDATED x2 *** SUBSCRIBERS ONLY: 130-page oppo dump on Rep. Ken Dunkin's past
* Hey, he's just doin' what he said he'd do
* This Just In: Exelon Announces More $$$$ For Shareholders, Higher 2015 Profits And Still Seeks Bailout
* "Get your facts first, then you can distort them as you please"
* *** UPDATED x2 - Stratton responds - IllinoisGO checking the facts *** "Mug shot" mailer hits Ken Dunkin
* Credit Unions – A Smarter Choice!
* SUBSCRIBERS ONLY - Money, Endorsements, Muñoz, Farnham
* *** UPDATED x1 *** State to close Kewanee youth center
* Today's political videos
* *** UPDATED x2 - Duckworth doubles down - But what about Kirk's Rahm endorsement? *** Because... Rahm!
* As expected, Rauner endorses McCann opponent
* SUBSCRIBERS ONLY - Dunkin mailers, Alvarez poll results and xtabs, etc.
* Pot, meet kettle
* SUBSCRIBERS ONLY - Today's edition of Capitol Fax (use all CAPS in password)
* Yesterday's blog posts

Support CapitolFax.com
Visit our advertisers...

...............

...............

...............

...............

...............

...............

...............


Search This Blog...

Search the 98th General Assembly By Bill Number
(example: HB0001)

Search the 98th General Assembly By Keyword

  
* Canon, IGT license battery charging patents to BlackBerry
* ‘GTA: Liberty City Stories’ arrives on Android with shorter missions
* BadaDroid brings Lollipop to Samsung Wave S8500
* Enjoy your HD music videos on Vevo for Android
* Samsung Galaxy S7 Rumor Roundup: Everything you need to know
* Huawei Honor 5X unboxing and first impressions: style on a budget (Video)
* Apple Music nets 11 million subscribers at eight months

* White Sox Top 10 Prospects for 2016: Part Two
* Top Sox prospects to compete for jobs in camp
* White Sox Top 10 Prospects for 2016: Part One
* White Sox reportedly considering Desmond
* White Sox reportedly in on Desmond
* Lefty-heavy rotation not a concern
* White Sox' deal with Mat Latos makes sense to everybody

...............


Main Menu
Home
Illinois
YouTube
Pundit rankings
Obama
Subscriber Content
Durbin
Burris
Blagojevich Trial
Advertising
Updated Posts
Polls

Archives
February 2016
January 2016
December 2015
November 2015
October 2015
September 2015
August 2015
July 2015
June 2015
May 2015
April 2015
March 2015
February 2015
January 2015
December 2014
November 2014
October 2014
September 2014
August 2014
July 2014
June 2014
May 2014
April 2014
March 2014
February 2014
January 2014
December 2013
November 2013
October 2013
September 2013
August 2013
July 2013
June 2013
May 2013
April 2013
March 2013
February 2013
January 2013
December 2012
November 2012
October 2012
September 2012
August 2012
July 2012
June 2012
May 2012
April 2012
March 2012
February 2012
January 2012
December 2011
November 2011
October 2011
September 2011
August 2011
July 2011
June 2011
May 2011
April 2011
March 2011
February 2011
January 2011
December 2010
November 2010
October 2010
September 2010
August 2010
July 2010
June 2010
May 2010
April 2010
March 2010
February 2010
January 2010
December 2009
November 2009
October 2009
September 2009
August 2009
July 2009
June 2009
May 2009
April 2009
March 2009
February 2009
January 2009
December 2008
November 2008
October 2008
September 2008
August 2008
July 2008
June 2008
May 2008
April 2008
March 2008
February 2008
January 2008
December 2007
November 2007
October 2007
September 2007
August 2007
July 2007
June 2007
May 2007
April 2007
March 2007
February 2007
January 2007
December 2006
November 2006
October 2006
September 2006
August 2006
July 2006
June 2006
May 2006
April 2006
March 2006
February 2006
January 2006
December 2005
April 2005
March 2005
February 2005
January 2005
December 2004
November 2004
October 2004

Blog*Spot Archives
November 2005
October 2005
September 2005
August 2005
July 2005
June 2005
May 2005

Syndication

RSS Feed 2.0
Comments RSS 2.0
WordPress

Loading


* budget address - Herald & Review..
* OUR VIEW: Illinois officials must talk - Journa.....


* Water monitors to test quality of Bloomington lakes
* Chicago police officer involved in Koschman case quits
* Suburban school district forms transgender access policy
* DeKalb High School band to perform in Ireland parade
* Voter registration deadline ahead for March 15 primary
* Granite City man convicted of murder in 21-month old's death
* Ray LaHood, NPR host among Order of Lincoln award winners
* The Latest: Legislator says Kewanee plan is 'opportunity'
* Illinois to close youth correctional facility in Kewanee
* Illinois roads could benefit from potential $84.7M windfall

* American Legion, others pay homage to Abraham Lincoln
* American Legion, others pay homage to 16th president
* Illinois roads could benefit from potential $84.7 million windfall
* Gov. Rauner endorses Bryce Benton in Illinois Senate race
* Ray LaHood, NPR host among Order of Lincoln award winners
* Rauner closing youth correctional facility in Kewanee
* $45M and counting for $315M rail consolidation project
* Lawmakers making second attempt to send AFSCME talks to arbitrator
* President Obama returns to his political roots, connects with past friends, supporters
* Bill aims to create foundation to raise private money for state fairgrounds

* Chicago Sun-Times goes it alone—for now
* Here's where Kareem Abdul-Jabbar is selling his amazing rug collection
* Union discloses training guide for Rauner budget-cutters
* A family defends its honor after settling lawsuit over its failed bank
* Autopsy reports found from 1929 Valentine's Day massacre


* Sneed: Hillary’s long and winding road
* Emanuel pushing O’Hare high-speed rail — without Block 37 station
* Georgia Nicols horoscopes for Feb. 13
* Dear Abby: Teen aches for cousin whose dad’s a cheater
* Union: Rauner ‘superstar’ recruit penned ‘clownish’ budget presentation
* CSO responds to magical touch of a Russian maestro
* The stage is almost set for the Blackhawks’ Stadium Series game
* Blackhawks hoping to get Artemi Panarin back for Ducks game
* Blackhawks will have their first-ever game broadcast in Spanish
* Mailer dubs Rep. Ken Dunkin criminal and ‘deadbeat dad’


* 2 dead, 7 wounded in separate shootings
* Woman hurt in Lake Shore Drive crash on South Side
* Downers Grove official to join College of DuPage board, sources say
* Zika virus likely to blame for Romeoville woman's miscarriage
* Chicago school principals find ways to deal with budget cuts
* Evanston-based fraternity says 5 chapters acknowledged hearing racist chant
* Prosecutors say con man posing as psychologist treated 44 patients
* S&P downgrades College of DuPage credit rating
* Rauner to close troubled downstate youth detention center
* Chicago teen shot in leg no stranger to gunfire


* Charles Krauthammer: Sanders and Trump: Magic sells
* John Comerford: Fundraising is more fun than you might think
* American Legion, others pay homage to Abraham Lincoln
* American Legion, others pay homage to 16th president
* Illinois roads could benefit from potential $84.7 million windfall
* Gov. Rauner endorses Bryce Benton in Illinois Senate race
* Ray LaHood, NPR host among Order of Lincoln award winners
* Rauner closing youth correctional facility in Kewanee
* $45M and counting for $315M rail consolidation project
* Lawmakers making second attempt to send AFSCME talks to arbitrator


* Who lives here? Feb. 13, 2016
* UI needs to recruit a new basketball coach
* This day in history, Feb. 13, 2016
* Weekend planner: Love is in the air
* Sharing their love
* Hospital assessment hearing scheduled
* Marijuana dispensary aiming for late March opening
* Ohio Art Co. sells Etch A Sketch
* Lo family selling farm equipment
* Raising tobacco sale age makes perfect sense


* Cruyff, sure of cancer recovery, says he leads disease 2-0
* Baton Rouge police say two officers, one suspect hospitalized with gunshot wounds after confrontation
* Pope-Patriarch meeting seen by Russians as significant
* Amid multitude of woes, Egypt leader says democracy is back
* UN peacekeepers prepare for Central African Republic vote

* House lawmakers overcome hurdle on key tra...
* Rodney Davis talks funding with Bloomingto...
* The agency that fought Illiana gets a new ...
* Rep. Dold takes educational cruise down Ch...
* Lawmakers decry high turnover rate of VA h...
* CBD Oil, and politics
* Simon considering state Senate bid
* Killer Congressman Tom MacArthur trying to...
* Shutdown? State may not notice
* Rep. Bob Dold

* State Week: Obama In Springfield - WUIS 91.9...

* Sen. Kirk Introduces Bill on Investment-Re......

* Palos and Orland Township GOPers favor Trump, Marter for March 15th primary
* John Kasich lands another Illinois endorsement: State Rep. Chad Hays
* Susana L. Ortiz interviewed on NTNM
* Hey, my people.
* Art + Activism. Our exhibit opened last night.
* On the eve of the Pope’s visit to Mexico, Ayotzinapa is back in the news.
* Study: Good News For Motorists, Younger People Driving Less
* Is broadcaster Stephen A. Smith the ‘voice of reason’ standing up for our freedom to express ourselves?
* 'Superior Donuts' Series Set In Uptown Coming To CBS
* Pilot For 'Superior Donuts' TV Series Set In Uptown Being Filmed For CBS


* Emergency Management Officials, National Weather Service Encourage Winter Preparedness - November is Winter Weather Preparedness Month in Illinois
* Keep Your Family Safe This Winter - November through February are leading months for carbon monoxide related incidents
* Governor Takes Bill Action
* Illinois Department of Labor Director Hugo Chaviano Awards Governor’s Award for Contributions in Health and Safety to the Illinois Refining Division of Marathon Petroleum Company LP
* State Regulator Elected Treasurer of Interstate Medical Licensure Compact




Hosted by MCS SUBSCRIBE to Capitol Fax Advertise Here Mobile Version Contact Rich Miller