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Initial pension ruling could come next year

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Illinois

* Most figured it would be a couple of years before this played itself out, so this AP story isn’t too surprising…

A ruling on whether Illinois’ pension overhaul law is constitutional could be delayed until next year after a Sangamon County judge decided Thursday he wants to hear all the arguments raised on the issue.

The (Springfield) State Journal-Register reported Friday that Circuit Judge Jon Belz rejected the proposal by lawyers for retiree groups challenging the law to first rule on whether the plan violates the state Constitution’s prohibition on diminishing or impairing pension benefits.

Belz ruled that it could lead to piecemeal opinions on various aspects of the law, actually prolonging the final resolution.

The schedule the judge laid out would take the case into December.

posted by Rich Miller
Friday, Jun 27, 14 @ 2:47 pm

Comments

December? Just past election time.

Comment by DuPage Friday, Jun 27, 14 @ 2:53 pm
Next year puts the question off until after the fall election and probably after the ‘lame duck’ session as well.

Comment by Hit or Miss Friday, Jun 27, 14 @ 2:55 pm
I suppose this is all part of a Madigan conspiracy.

Comment by Precinct Captain Friday, Jun 27, 14 @ 3:00 pm
Looks like another 3% compounded increase is likely in Jan. 1, 2015.

Comment by facts are stubborn things Friday, Jun 27, 14 @ 3:01 pm
I do not suspect a lower court to do anything but uphold the pension clause of the IL constitution. If there is any chance of this pension law standing in any form, it will take the IL SC to write some tortuous and contorted ruling that could send some of this stuff back to the parties to work out.

Comment by facts are stubborn things Friday, Jun 27, 14 @ 3:05 pm
As Rich said, expected …

Comment by RNUG Friday, Jun 27, 14 @ 3:19 pm
@fast3:01=Looks like another 3% compounded increase is likely Jan. 1, 2015.=

That is what the pension law and Illinois constitution require by law. If lawmakers put in their required employer match the pension funds would have no problem.
3% might not sound like so much if interest rates go up. I just read one of the high-up directors of the Federal Reserve said it is time to phase out the near zero interest rates. They better be careful doing that, it could easily drive the economy back in the ditch.

Comment by DuPage Friday, Jun 27, 14 @ 3:21 pm
The Federal Reserve member who said interest rates should go up is in the minority of the 10 Board members. Some of the talking heads on CNBC are saying the bond buying by the Fed should be reversed because of the poor numbers for the economy.

Comment by Tom Joad Friday, Jun 27, 14 @ 4:03 pm
- DuPage - Friday, Jun 27, 14 @ 3:21 pm:

I am a retiree and I totally agree with everything you have stated. I was saying this because at least we have locked in another 3%.

Comment by facts are stubborn things Friday, Jun 27, 14 @ 4:15 pm
Is that December of 2015?

Comment by Peoria guy Friday, Jun 27, 14 @ 4:19 pm
Dec of 2014 isn’t two years, but one year.

Comment by Peoria guy Friday, Jun 27, 14 @ 4:21 pm