A Cook County judge ruled Friday that Chicago's plan to change city workers’ pensions was unconstitutional. The city vows to appeal the decision. We look at the ruling, whether any pension reform can be constitutional, what the consequences are to the city's plummeting bond rating, and whether the city will have to raise taxes to cover the pension liability.
For the first time, Gov. Bruce Rauner discussed his concerns over the constitutionality of his and Senate President John Cullerton’s pension proposals. The governor also spoke about taking several of his turnaround agenda items “off the table,” but he wouldn’t say what those items were.
The Illinois Supreme Court overturned the state’s 2013 pension reform law. Chicago Tonight hosts a special 30-minute edition on the ruling.
The Illinois Supreme Court has struck down the state's landmark 2013 pension reform law, upholding a lower court ruling that it violated the state constitution. In the ruling, the court rejected the state's defense that its contractual obligations were not absolute, because it reserved "emergency powers" in a time of crisis.
A Sangamon County judge tossed lawmakers' much touted pension reform law saying it's unconstitutional. Now it heads to the Illinois Supreme Court. What does this mean for pensioners and for Illinois, which has the worst bond rating in the nation and faces a $105 billion unfunded public employee pension liability?