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Quinn signs pension theft bill. What he was put on this earth to do. Now he can leave.

December 5, 2013

quinn

Squeezy signed the bill in a private location this afternoon. Union and retiree lawyers head for court.

WGN:

“Illinois is moving forward,” Governor Quinn said in a statement. “This is a serious solution to address the most dire fiscal challenge of our time.”

State lawmakers passed the major overhaul to pension legislation in a history-making vote at the state capitol on Tuesday.

The worst-funded pension system in the nation, $100 billion dollars in the hole has been dragging down the state economy.

The new law, which takes effect June 1, will increase the retirement age for younger workers, scale back the annual cost-of-living increases for most retirees and establish a 401(k)-styled option for a limited number of workers. It would also skip some annual retiree increases, depending on when they retire.

The new law also requires workers to pay 1 percentage point less from their paychecks toward the retirement system. It includes protections for some of the longest-serving, lowest-paid workers who get the smallest retirement checks, allowing them to collect the current level of benefits until they hit certain levels.

Quinn says the bill will save the retirement system for government workers and help grow the economy. But the unions representing state workers have another word for: Robbery.

Read more: http://wgntv.com/2013/12/05/quinn-expected-to-sign-pension-reform-bill-this-afternoon/#ixzz2mdIT0ZcW

13 Comments leave one →
  1. Randy Fritz permalink
    December 5, 2013 3:12 pm

    Chicken shit. He knows he’s betraying his own beliefs.

  2. Norm Garrett permalink
    December 5, 2013 3:52 pm

    It’s time for an “Illinois Spring.” Let’s sweep the parasites who voted for this bill back under the rocks they crawled out from in the first place. Madigan and Quinn should be first on the list.

    • Anonymous permalink
      December 6, 2013 9:02 am

      You are right on!! But, here is the bump in the road…we are a Nation of Sheep!! Unions tell us who to vote for and we do it!! Why??

  3. Norm Garrett permalink
    December 5, 2013 3:59 pm

    When I was a kid growing up in Southern California we used to explore tide pools at low tide. Once in awhile we would run across an octupus stuck to a rock in the tide pool. No matter how hard we tried to pull it from the rock, it wouldn’t budge. We finally figured out that if we got a stick and poked hard at it in the midsection for awhile, it would soon release its grip long enough for us to yank it from the rock. Maybe that’s a formula for getting rid of Quinn, Madigan, et. al.

    • Anonymous permalink
      December 5, 2013 4:28 pm

      Madigan is far worse….he is scum. Quinn THINKS he is doing the right thing.
      BTW If you can find the series BOSS that aried last year onand the year before on STARZ…a fictious (?) account of Chicago politics, please do watch it. More of a reality show I would say.

  4. December 5, 2013 4:53 pm

    Merry Christmas, Governor “Squeezy” Quinn. Now you can reimburse yourself the money you promised not to take in your dramatic gesture as a visitor on earth to correct the injustice to taxpayers (and corporations). That comes to about $74,000 doesn’t it? That should make for some superb stocking stuffers for the fellows in Springfield who helped you manage this pension theft, and that includes your trustworthy(?) friend Speaker Madigan, who was there to steal the pension contributions in the first place.
    I noted the signing of this bill was not accomplished with much fanfare. Like the most desperate and dirty deeds in the political tale of Macbeth, the cloisters and dark hallways are best, aren’t they? It’s there we need not look at each other – the McGuires, Raouls, Jones IIIs, Langs, and others whose lives “have fallen into the sear.”
    Enjoy your payment to yourself, and remember that we who work and toil for our state – and were never responsible for this heinous liability – will never forget, will bear the pain of your cruel scapegoating, and begin adjusting our lives to your new reality.
    Enjoy the holidays, Governor. We aren’t.

  5. December 5, 2013 6:11 pm

    Fred, where’s your cartoon of Squeezy curling his money-grabbiing mitt around the pens?
    I am eagerly awaiting this masterpiece.
    Just as I am his eventual gubernatorial defeat.

  6. Norm Garrett permalink
    December 5, 2013 6:35 pm

    I hope the pen leaks all over Madigan’s shirt.

  7. Neal permalink
    December 5, 2013 7:27 pm

    If Madigan is sure of four supreme Court justices voting that the bill is constitutional, then you know the “fix” is on! Time to investigate Speaker of the House Bozo the Clown, and send him off to prison!!!!!

    • Do we know what they know???? permalink
      December 6, 2013 8:59 am

      Neal, You hit it right on the head!!

  8. Barb permalink
    December 5, 2013 10:26 pm

    I am a member of the CTPF. We are next and Rahm is working with Madigan and Tom Cross as I write. He wants even more concessions than this bill outlines. He is so hated….

    Could someone please comment on the health insurance situation. I understand the COLA theft but I have read that this new law also forbids any pension money being used for health insurance subsidies. Is this true? Will we be saddled with the full cost of our health insurance?

    Seriously, how these weasels can sleep at night is beyond me.

  9. Anon permalink
    December 5, 2013 10:44 pm

    There may be hope in court. Someone was talking about “Jorgenson vs. Blagojevich”, in which the ISC already ruled that the 3% COLA was part of the pension and could not be diminished. It looks like the ISC would have to totally reverse their previous ruling to uphold this pension theft.

    • Norm Garrett permalink
      December 6, 2013 7:39 am

      I don’t think there’s any question that this is diminishment. I think, based on the preamble to the SB1, that the card they are going to play is that the state can’t afford it and that the needs of the state outweigh any single contractual agreement. The problem with that argument, it seems to me, is that they would have to prove that there are NO other alternatives, and that without the “diminishment”, the state will go broke or be unable to provide basic services. If I were arguing against that, I would ask the following questions:

      1. Have you tried to restructure the income tax system?
      2. Have you tried to close loopholes such that more than 1/3 of the corporations in the state will be paying taxes?
      3. Have you stopped giving tax incentives to large corporations?
      4. Have you looked at every other avenue of generating income that is available to you?

      To play that card, I think they would have to be able to prove that there are absolutely no alternatives left except to raid (once again) the pension system.

      The other card they want to play is that the pension system will become insolvent without this measure. They want to make that count as “consideration,” e.g. “something is better than nothing.” There are a couple of problems with that. The first is that it assumes that the system is about to go bust. 40% funding is not on the verge of going bust, at least within the lifetime of current retirees, and we are the group for which they are trying to claim that saving the system, in and of itself, is consideration. Cullerton as much as said this a few weeks ago. The second problem is that precedent from ISC has shown that their obligation is to pay the benefits, not necessarily to fund the system. If needed, they could pay the benefits as they become due, so long as they are paid. So there is a difference between keeping the system funded and the contractual benefits that they are obligated to pay.

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