Ward Room
Covering Chicago's nine political influencers

Madigan Circles Date for Pension Vote

View Comments (
)
|
Email
|
Print

Illinois Speaker of the House Michael Madigan sent an email to state representatives Wednesday asking them to be prepared for a vote on the looming pension crisis on December 3. 

As of Wednesday, all the legislature has is a date, and not much else. 

"We don't have a deal yet," said one member of the conference committee, who confirmed the vote would happen on the 3rd. 

Illinois has one of the worst unfunded pension obligations in the world, estimated at around $100 billion.

Earlier this month, just after Same Sex Marriage passed the legislature, Madigan said he was hopeful for action on pensions before the end of the year.  

The Chicago Democrat said legislative leaders were waiting for actuaries to crunch numbers on some proposals they're considering. Once they have the information he hopes lawmakers can return to Springfield and approve a bill.

The House Personnel and Pensions Committee earlier this month approved a measure that lawmakers could amend with a pension deal. The procedural move sets the General Assembly up to more quickly approve any pension legislation if a proposal emerges from the leaders' discussions.

Lawmakers have been working for years to pass legislation addressing it, but have been unable to agree on a fix.

Related Topics Madigan, Pensions, Chicago
Leave Comments