A legal answer to state pension crisis?
by Scott Reeder
November 29, 2018
…A new legal theory is being pondered by outgoing state Rep. Jeanne Ives, R-Wheaton, that she contends would get the state out from under the pension debt. It goes like this: The state entered into illegal contracts when it signed up employees for pensions over the last 40 years. While the state constitution says pensions of public employees cannot be diminished, the constitution also mandates that state legislators pass a budget they believe to be balanced and the constitution also says Illinois cannot take on more debt unless three-fifths of lawmakers agree…Her contention is that this was a deliberate violation of the balanced budget clause of the state constitution and thus its “contract” with pensioners is void. READ MORE