Click for St. Louis, Missouri Forecast

// a href = ./ // St Louis News, Weather, Sports, The Big 550 AM, St Louis Traffic, Breaking News in St Louis

Online pharmacy:fesmag.com/tem

Have you a sex problem? Please visit our site:fesmag.com/medic

Site map
 
 
 

   SPRINGFIELD, Ill. (AP) - A top aide to House Speaker Michael Madigan is telling Illinois lawmakers to be ready for a special session in Springfield in December.

   Madigan chief of staff Tim Mapes told Democrats in an email Wednesday that a "possible" session could begin Dec. 3. He told lawmakers to "keep other days that week available."

   The email was sent around the time Madigan and other legislative leaders were meeting in Chicago to discuss a deal to solve the state's $100 billion pension crisis.

   Dec. 3 is the day after the deadline for candidates to file paperwork in the 2014 campaign, including anyone challenging incumbents.

   House Republican Leader Jim Durkin says progress is being made on pensions but any agreement is on hold until the cost savings of proposed solutions can be calculated.

 
Published in Local News

   SPRINGFIELD, Ill. (AP) - A proposed solution to Illinois' historic $100 million pension crisis is hanging in the balance as the state Legislature's October veto session approaches.

   Key Democrats on a pension panel are pushing a plan to save the state $138 billion over the next 30 years, but Republican lawmakers want a number of changes. House Speaker Michael Madigan hasn't yet committed to calling the proposal for a vote, either.

   Senate President John Cullerton supports the deal and calls it "less unconstitutional" than a previous plan that would have saved $163 billion.

   Illinois' five public-employee retirement funds have an unfunded liability of about $100 billion. The annual contribution to the fund, plus payments on past pension bonds, is about $7.65 billion this year. That number will increase in years to come without action.

 
Published in Local News

   Illinois Governor Pat Quinn wants lawmakers to return to Springfield later this month, but some legislators aren't sure why.  

   Quinn released a statement Thursday criticizing lawmakers for failing to address the state's nearly 100-billion dollar pension shortfall and calling a special session which begins June 19th. The announcement follows news that Moody's Investors Service is lowering Illinois' credit rating.  But a spokesman for House Speaker Michael Madigan says he believes the special session is to deal with guns, not pensions.

   Quinn is currently considering conceal-carry legislation that was passed last week.  Quinn hasn't said if he'll sign the plan. If he vetoes it, lawmakers could override the veto.

Published in Local News
Friday, 22 March 2013 02:43

IL House passes pared down pension plan

SPRINGFIELD, Ill. (AP) — The Illinois House has approved a stripped-down pension plan that could delay and reduce cost-of-living increases for retirees and future retirees.

The bill is sponsored by House Speaker Michael Madigan and comes out of a laborious process where lawmakers are addressing the pension problem piece by piece instead of a total overhaul at once. House members voted in favor 66-50 yesterday. It's the third scaled-back pension bill the House has recently approved.

Thursday's proposal says that no cost-of-living increases can be taken until retirees reach 67 years of age, or five years after retirement and applies COLAs only to the first $25,000 of an annual pension.

Illinois has nearly $100 billion in unfunded pension liability because for years lawmakers either skipped or shorted payments.
Published in Local News

Latest News

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
Prev Next
Missouri lawmakers take on e-cigarette restrictions

Missouri lawmakers take on e-cigarette restrictions

JEFFERSON CITY, Mo. (AP) - The Missouri House and Senate have each passed bills that would prevent people younger than 18 from purchasing electronic cigarettes.    ...

Man admits to burning dog in 2013

Man admits to burning dog in 2013

St. Louis, MO (KTRS) - A St. Louis man is headed to prison for burning a dog so badly, that the animal had to be put down.   Wesley Reid appeared in court Thursday ...

Illinois jobless rate at lowest level in five years

Illinois jobless rate at lowest level in five years

CHICAGO (AP) - State officials say unemployment in Illinois dropped in March to 8.4 percent. That's its lowest level since 2009.      The Illinois Departm...

Illinois gives early OK to $100M for Obama museum

CHICAGO (AP) - An Illinois House committee has advanced a plan to devote $100 million in state funds to help bring President Barack Obama's presidential museum and library to Ch...

Steve Stenger Nabs Labor Endorsement

St. Louis, MO --  Councilman Steve Stenger announced Thursday that he has received the St. Louis Labor Council's endorsement in the race for St. Louis County Executive. &nb...

America stands with Kansas City mourners

America stands with Kansas City mourners

OVERLAND PARK, Kan. (AP) - Attorney General Eric Holder says all Americans are standing with the mourners of three people killed at Jewish community sites in suburban Kansas Cit...

Missouri Senate confirms Social Services director

Missouri Senate confirms Social Services director

JEFFERSON CITY, Mo. (AP) - The Missouri Senate has confirmed a longtime employee of the Missouri Department of Social Services to be the agency's new director.   Br...

© 2013 KTRS All Rights Reserved