News

Quinn Unfazed by Pension Report

Quinn Unfazed by Pension Report

Photo: Newsradio WTAX

Gov. Pat Quinn isn’t too concerned about a report that says the pension reform law won’t save as much as originally promised.

An analysis from the state’s Commission on Government Forecasting and Accountability says Illinois will save $137 billion because of the law, down from the original projection of $160 billion. Gov. Pat Quinn says the law will still accomplish its goals.

“We’re gonna erase the liability in 30 years and that’s the bottom line,” Quinn said. “You know, matter of fact, the returns of the pension funds in the last year or so have actually been very, very good.”

Those returns are why the savings estimate has been lowered, as it reduced the taxpayer obligation to the pension systems. The report itself says trying to compare the current numbers and the original estimate is “a tenuous exercise.”

Recent Headlines

in Local

Durall Named Acting Circuit Clerk

sangamon_county_building_3

A temporary replacement has been named for retiring Sangamon County Circuit Clerk Tony Libri.

in Local

Jobe Changes Proposed Food Truck Ordinance

jobeuber

Ward 6 Alderman Cory Jobe is tweaking his ordinance to restrict where food trucks can operate in Springfield in relation to existing brick and mortar restaurants.

in Local

Duckworth Stops in Springfield for Senate Candidacy

Tammy Duckworth

More than nineteen months out, we know the name of one Democrat who wants to be elected to the U.S. Senate, to the seat now held by Republican Mark Kirk.

in Local

Should Clearlake Dissolve?

I Voted Stickers

There may be one less community in Sangamon County a week from today.

in Local

Proposal: No More Frivolous Lawsuits from County Jails

jail

County jail inmates who abuse the court system with lawsuits a judge deems "frivolous" would be penalized with loss of their "good time" credit, under a bill being considered at the Capitol.