News

Big Move Could Be Necessary If Plan B Is Needed

Big Move Could Be Necessary If Plan B Is Needed

A state lawmaker is looking at Plan B, in case the pension restructuring enacted last year is struck down in court.

The state must find a way to keep pension benefits from growing, because it will never be able to come up with the money to fulfill its promises, says State Sen. Matt Murphy (R-Palatine).  So if the court says the new law is unconstitutional?

“I think you’re gonna have to look at a constitutional amendment, because you’re not coming up with $100 billion,” he said.

At issue would be the clause in the Constitution saying that a state pension cannot be diminished or impaired.  An amendment might specify that that applies to the accrual rate, but not to cost-of-living adjustments or other escalators.

How would that go?  “Well, it’d be fascinating to see.  I’m sure the unions would put a little bit of money in on trying to defeat such an initiative,” he said.

A lawsuit challenging the pension law will be heard this year in Springfield, and it is expected to quickly rise to the Illinois Supreme Court.  The law cuts the automatic 3 percent raise that pension beneficiaries receive, and it raises the retirement age for enrolled workers age 45 and younger.

 

 

Recent Headlines

in Local

Extra Police Patrols for Labor Day Weekend

9-3-15 KEEP DRIVING SOBER

"Drive Sober, or Get Pulled Over."

in Local

Sangamon Co. Clerk Disputes Voter Roll Study

sangamon_county_building_2

Sangamon County Clerk Don Gray says don't believe what you read when it comes to alleged analysis of the county's voter rolls by the Public Interest Legal Foundation.

in Local

CWLP Bond Rating Analyzed

cwlp

City Water Light and Power says Moody's Investors Service is keeping the electric utility bond rating at A3.

in Local

Durbin: Enough Votes Supporting Iran Nuclear Deal

IRAN VOTE

Democrats in the U.S. Senate have enough votes to uphold a preserve the Iran nuclear deal, but U.S. Senator Dick Durbin (D-Ill.) is aiming for a higher goal.

in Local

Video Recovered That Could Help Manhunt

FOX LAKE AP

Authorities believe they've recovered video that will help the investigation into who killed a Fox Lake police officer.