House Speaker Michael Madigan.
Like the Cubs winning the World Series in 2014, it could happen.
But probably not.
The Illinois General Assembly will meet this week in veto session. They are not likely to meet again until the next regular session in January. And they are unlikely to pass a pension bill.
Good news and bad news.
The good news is that we still will receive the pension that is owed us.
The bad news is that by avoiding the revenue issue, the debt grows larger.
The special joint committee on pensions – The Gang of Ten – headed by Senator Kwame Raoul and Representative Elaine Nekritz have not met in open session since the summer.
After a behind doors secret meeting of legislative leaders there was still nothing.
“I’ve been directed to say there is good progress,” Steve Brown, spokesman for House Speaker Michael Madigan, D-Chicago, said afterward.
Cullerton and Madigan have different plans, but both want state employees and retirees to be the ones to make the sacrifice.
For example, if their plan to end the current compounded cost of living adjustment and make it half of the Consumer Price Index, a teacher who retires this year would be losing half their pension over the course of their retirement.
When our Skokie Organization of Retired Educators (IEA-R), met with Senator Biss, we objected to his saving plan that would shift a third of the pension liability to employees and retirees.
The Illinois Constitution and any sense of decency would cause the people of Illinois to oppose a plan that would make us pay a third of the debt that the state owes us, plus give up half of our only retirement savings.
Fred Klonsky 
Not only that, Fred, but I urge people who haven’t yet seen it to view the excellent PBS
“Frontline” documentary “The Retirement Gamble.” (So important, in fact, that the various WTTW channels have been rerunning it over & over. I believe it can also be viewed online & on Comcast OnDemand.) Even the smartest retirees–who have invested money in 401ks & other such retirement funds–have lost & are currently losing moneydue to hidden fees & unscrupulous, under-regulated investment bankers & their ilk. Of course, I’m not pointing a finger at everyone, but there is just so much greed out there–WATCH OUT!
It’s a sad time we’re in–the most vulnerable (the very young & the elderly) people in our society are being preyed upon time & again (see also Lafayette School article today in Sun-Times–I’m wondering if they’ll staff the new arts academy taking over the building with highly qualified teachers? Oh–I forgot–TFA teachers ARE highly qualified!)