The bill, passed Nov. 29, calls for public pensions to be based on the employee’s regular salary instead of union rates. It also contained language specifically booting two lobbyists from teacher pension programs they nabbed by substitute teaching for one day. But it may be unconstitutional, House Democrats say. more ›

Looks like the "Jon Burge gets to keep his pension" saga isn't over just yet. Rev. Jesse Jackson announced Saturday that he plans on filing a lawsuit to have Burge's pension revoked. Last Thursday the police pension board deadlocked on whether Burge's pension should be revoked. The four who voted to let Burge keep his pension were all current or former cops elected to the pension board by the Police Department and said that Burge's conviction for perjury and obstruction of justice was not related to the allegations of police torture with which Burge has become synonymous. more ›

For people who believe the 4-1/2 years in prison former Chicago Police lieutenant Jon Burge received last week wasn't nearly enough, today's vote by the police pension board that allows Burge to retain his pension should have all the flavor of a sugar-coated turd. Five votes were needed to revoke Burge's pension and the eight member-panel — half voted to the board by the Police Department, half appointed by Mayor Daley — was split right down the middle. Want to take a guess as to which side voted for Burge to keep his pension? more ›

A study by retirement planning website Topretirements.com listed the ten worst states for retirees. If you have money on the Land of Lincoln heading the list, it's a push bet. more ›

The widow of former Metra Chief Phil Pagano, who committed suicide in May walking in front of a train as the Metra board of directors were set to fire him for embezzling $475,000 in unearned pay, was awarded an $80,000-a-year pension as a survivor benefit. more ›

• The State House and Senate both voted to override Gov. Quinn's veto of the McCormick place reform bill.
• Speaking of the state legislature, the Senate won't call a vote on the pension payment plan today because there currently aren't enough votes to pass it.
• Mayor Daley addressed the recent incidents of unrest at the city's beaches, blaming it on those pesky teens and their no-good text messaging.

Facing a financial crisis that has spiraled out of control with a deficit potentially nearing $1 billion, the Chicago Public School system has announced another round of cuts. CPS chief Ron Huberman announced yesterday that there would be three more weeks of furlough days and 500 non-union job cuts in an effort to stave off a 2010-2011 deficit that is projected to reach $975 million. The projected budget shortfall for the CPS is $700 million but Gov. Quinn's new budget adds in an additional $275 million in cuts. Huberman is also asking the Chicago Teachers Union, due a four percent cost of living increase in wages next year ($169 million), for concessions as well as for pension reform and a delay in payments due to the pension. According to the Tribune: more ›

The Illinois State Supreme Court has rejected a request by jailed former governor George Ryan to keep part of his pension. Ryan was hoping to receive $60,000 a year for his services to the state before his arrest for corruption. Justice Anne Burke was the only dissenter in the 6-1 ruling. [Sun-Times] more ›

Yesterday the Illinois Supreme Court heard arguments regarding former governor George Ryan's pension as Ryan attempts to reclaim part of his pension. Representing Ryan was another former governor, Jim Thompson. Thompson argued that though Ryan was stripped of his entire pension - a mind-boggling $197,037 per year, according to the Sun-Times - by the General Assembly upon his conviction in 2006, Ryan should still be entitled to the pension for offices he held before he became secretary of state in 1991; he had been a member of the Kankakee County Board, a State House Rep., and Lieutenant Governor (under Thompson). Why those offices? Because he served those offices "honestly"; in other words, he wasn't charged with anything while serving those offices. The pension he'd collect for those jobs would total around $60,000. Earlier this year, a state appeals court reversed the complete stripping of his pension. Reps for the retirement system, though, are none-too-amused. The Sun-Times continues: more ›

In an effort to tackle the $11.6 billion budget deficit, Gov. Quinn proposed a pension reform plan that, according to Fox Chicago, would cut in half the amount of money put into retirement systems for state employees over the next five years. more ›

• Stick-em-up: a man robbed a Logan Square McDonald's today armed only with a stick.
• Police seized drugs and weapons as well as arrested Casey Crawford during an overnight raid at a condo apparently owned by Chicago Police Asst. Supt. Beatrice Cuello. Neither Cuello nor her daughter, who also lives at the condo, were suspected of any wrong-doing.
• A state appeals court has ruled jailed former governor George Ryan should be allowed to receive part of his pension. Ryan will receive $65,000 a year.