ABC 20 Streaming LiveSpotlight 20Pump PatrolRaw NewsPay It Forward

Forecast

TONIGHT: Rain showers continue into the evening with rain mixing with snow toward morning as temperatures turn colder. Low: 36. Winds: Southwest 15-20 mph.

MONDAY: Cloudy and blustery with light rain or snow in the ...

more »

Advertise with us!

Search Results

The following is an archived video story. The text content of that video story is available below for reference. The original video has been deleted and is no longer available.

Potential for Compromise on Pension Reform Unclear

The General Assembly is scheduled to return to Springfield Wednesday to try to resolve the state's pension crisis.
   
But, it's still unclear whether lawmakers will reach a solution.

 Everyone can agree on one thing: the state's $97 billion unfunded pension liability is a problem that needs to be addressed.
   
But, that's where the consensus ends.
   
"The only way Illinois is going to be able to crawl out of this financial hole is if we enact real pension reform," said Representative Thomas Morrison, a Republican from Palatine.
   
Forty-eight hours before lawmakers are scheduled to return to the Statehouse, a handful of Republicans join the non-partisan Illinois Policy Institute to push their own defined contribution plan to reform the state's pensions.
   
The proposal didn't gain enough traction to advance to the floor of either chamber for a vote during the spring session.
 
At the center of the Statehouse stalemate is a failure of the Democratic leaders in the House and Senate to see eye-to-eye.
   
House Speaker Michael Madigan and Senate President John Cullerton pushed their own plans for reform in the last few months.
   
Governor Quinn is calling on the pair to compromise, and put forward a bill combining both plans, during the special session this week.

A spokeswoman for Cullerton says he'll work to advance a compromise bill.
   
The House speaker refused to call it for a vote in his chamber during the spring session.
   
But, a representative for Madigan says he hopes Cullerton will lobby senators to pass his own  bill.
   
The Senate voted it down last month.
   
But, Madigan plans to call it in the House for debate this week.

Madigan's plan requires employees to contribute more to their own retirement: one percent in the first year and two percent thereafter.
   
It raises the retirement age for employees on a sliding scale, and it reduces cost-of-living increases.
   
Cullerton's union-backed proposal gives employees and retirees the choice of either maintaining their annual cost-of-living increases or receiving health insurance when they retire.

Madigan's plan is estimated to shave $21 billion off the almost $100 billion in unfunded liability.
   
Cullerton's proposal would save around $5 billion.

The Senate president plans to hold a hearing Tuesday on a proposal that would require university employees to pay more toward their pensions and receive annual increases tied to inflation.

 
  • WICS :: News - The Ferguson Decision

    The Ferguson Decision



  • WICS :: News - Tracking Ebola

    Tracking Ebola



  • WICS :: News - Traffic

    Traffic

    Get up to the minute traffic reports from WICS NewsChannel 20!
  • WICS :: News - Road Trippin News

    Road Trippin News

    Missed a Road Trippin segment that aired in the news? Check it out here!
  • WICS :: News - Health Matters

    Health Matters

    Featuring news segment videos about health.
  • WICS :: News - In The Kitchen

    In The Kitchen

    Watch the area's best chefs whip up their tastiest creations. See them in action and get their recipes to try at home. 
  • WICS :: News - Behind The Headlines

    Behind The Headlines

    Get Behind the Headlines commentary with Mark Hyman.
  • WICS :: News - Ready, Set, Shred

    Ready, Set, Shred

    In an exclusive eight-week investigation, ABC Newschannel 20 digs deep into the Springfield police document shredding scandal.
  • WICS :: News - Pay it Forward

    Pay it Forward

    Pay It Forward... because sometimes people need a little extra help.
  • WICS :: News - Ask the Expert

    Ask the Expert

    Do you need expert advice? Here's your chance to ask our experts!
  • WICS :: News - Your Voice. Your Future.

    Your Voice. Your Future.

    As the country faces challenges from federal budget issues to jobs and national debt, your voice is critical to the future.
  • WICS :: News - Road Trippin

    Road Trippin

    Come Road Trippin' with us! Check out all the great attractions in your area!
  • WICS :: News - Pump Patrol

    Pump Patrol

    Check out the ABC Newschannel 20's Pump Patrol to find the lowest prices, report low prices and get gas saving tips.

  • WICS :: News - Spotlight 20

    Spotlight 20

    Local organizations and community leaders tell us about events in central Illinois.
  • WICS :: News - Raw News

    Raw News

    Watch extra news footage, full interviews, and extended stories that didn't make it on air.  "Raw News" may include content that is not suitable for children and is intended for mature audiences only.
  • WICS :: News - On the Farm

    On the Farm

    Whether it's topical segments on what's happening on local farms to commodity prices, we have the world of central Illinois agriculture covered.
  • WICS :: News - Fugitive Files

    Fugitive Files



  • WICS :: News - Home Room

    Home Room

    When's the next school board meeting? Where's the basketball game? What's for lunch today? Do we have a snow day tomorrow? We have all the information you need for a successful school year--no pencil or ...
  • WICS :: News - No Text Zone

    No Text Zone

    Texting while driving kills thousands of people each year. Many more are seriously injured.  Keep central Illinois roads safe by taking the "No Text Zone" pledge.
  • WICS :: News - Business News

    Business News

    Stay up-to-date on the biggest business stories from around the nation.
  • WICS :: News - Pet of the Week

    Pet of the Week

    The cutest video you'll see anywhere! You won't be able to resist these adorable friends who need someone to love them.
  • WICS :: News - Waste Watch

    Waste Watch

    How are your tax dollars being spent? Waste Watch tracks whether local, state and federal governments are using your money wisely...or wasting it.
  • WICS :: News - Washington Times

    Washington Times

    Politics, Breaking News, US and World News.
  • WICS :: News - Health Care Reform

    Health Care Reform

    The Supreme Court ruling to uphold the Affordable Care Act sparked a new battle. Check here daily for the latest developments, locally and across the country.

more »

Tonight on WICS

10:00 - ABC Newschannel 20 Nightside

Complete Schedule »


WICS Pay It Forward
Scandal
WICS Cheers For The Years
Jimmy Kimmel
WICS Storm Team