Rauner says Rahm’s pension legislation not ‘true pension reform’

SHARE Rauner says Rahm’s pension legislation not ‘true pension reform’

SPRINGFIELD — Republican Bruce Rauner Monday slammed Mayor Rahm Emanuel’s city pension plan now before the Illinois House, calling it a partial solution that doesn’t address “true pension reform” in Chicago.

Rauner joined Gov. Pat Quinn and Republicans, including House Minority Leader Jim Durkin, R-Western Springs, in criticizing the mayor’s plan because it would impose new property taxes on Chicago homeowners.

RELATED: Emanuel’s pension plan ‘no panacea,’ Moody’s says Chicago’s pension fund scorecard

Rauner’s beef with the plan also extends beyond that. He favors imposing a 401(k)-style programinto which existing city workers would transition and from which all future retirement benefits would come.

“Bruce has always maintained that true pension reform requires moving toward a defined contribution style system and believes that should also be part of the solution for Chicago,” Rauner spokesman Mike Schrimpf said Monday.

“Bruce believes that increasing property taxes isn’t the solution to Chicago’s pension problems,” Schrimpf said.

After the plan stalled last week, the House adjourned Monday without taking any action on the mayor’s legislation.


The Latest
Korchinski made some smart decisions in his 19:02 of ice time, but the Hawks lost to the Blues 4-1.
The Sox’ losing streak reaches seven after a loss to the Twins.
The way in which the mayor and CPS are pushing forward with this current, controversial and problematic proposal is troubling. There has not been meaningful community engagement with open, public meetings and true dialogue
The 19th century Victorian house will lose its status as the ‘candy house’ but will remain a testament to another era of Chicago.