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 program into 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
The focus in Chicago has centered on consent decree compliance levels and deadlines, but that will never give a true look at the improvements that have been made across CPD. The work we are doing is not about getting out of the consent decree as fast as we can
A science reporter shares a rare moment of awe surrounded by strangers gathered to experience the natural phenomenon that occurs every 221 years.
Noon Whistle Pub’s timely offering is made with the real insects.
The children, all of whom suffered minor injuries were taken to area hospitals after the wreck, which happened at 8:35 a.m. in Will County.
Citing financial woes, the provider of specialized care for low-income, LGBTQ+ and HIV-positive patients, said it will shutter its Diversey clinic at 2800 N. Sheridan Road and Thresholds South clinic at 734 W. 47th St.