Newspaper article St Louis Post-Dispatch (MO)

Illinois Supreme Court Strikes Down Chicago Pensions Plan

Newspaper article St Louis Post-Dispatch (MO)

Illinois Supreme Court Strikes Down Chicago Pensions Plan

Article excerpt

SPRINGFIELD, ILL * The Illinois Supreme Court dealt another devastating blow Thursday to the state's attempts to control ballooning public pension debt, striking down a law that would have cut into an $8 billion deficit in two of Chicago's employee retirement accounts.

The court's unanimous finding in favor of pension participants who pointed to reduced future benefits and higher contributions sends the city back to the bargaining table.

Republican Gov. Bruce Rauner used the ruling to tout a proposal by Democratic Senate President John Cullerton that would offer workers a choice of future cost-of-living increases based on current salary, or lowered increases tied to future pay raises. The idea is, benefits already collected don't go away. …

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