News

Quinn Signs Chicago Pension Bill

Quinn Signs Chicago Pension Bill

Photo: Newsradio WTAX

Gov. Pat Quinn has signed legislation that would help Chicago reduce a multi billion-dollar pension shortfall but could lead to a property tax increase.

Quinn had given little hint of his plans ahead of the signing, aside from saying that he opposes raising property taxes. Chicago has the worst-funded pension systems of any major U.S. city.

Mayor Rahm Emanuel pushed for the law. It would affect about 57,000 laborers and municipal employees and retirees. It would nearly eliminate the $9.4 billion shortfall in those funds by cutting benefits and increasing contributions for the city and employees. Emanuel has said he wants the additional contributions to come from a property tax increase.

Recent Headlines

in Local

Police, Secretary of State Disable IED in Downtown Springfield

police_tape

Springfield Police say an IED found in downtown Springfield Monday night was "rendered safe."

in Local

Beer Tickets Land State Fair Manager in Hot Water

state fair logo

Bliefnick hasn't responded for comment

in Local

On-Line Learning Could Get a Boost

state_capitol_4

Maintaining common standards in online college coursework is the goal of a new state law

in Local

Illinois Coal a Hot Commodity Worldwide

coal

Illinois coal exports have risen sharply in recent years, even as its high sulfur content limits its demand in the U.S.

in Local

Downtown Taylorville Building Partially Collapses

tothemoontattoo

A downtown Taylorville business is closed after part of its building collapsed over the weekend.