A key pension
reform law passed last year was struck down by the Illinois Supreme Court on
Friday. This is a huge setback to
lawmakers who passed the measure and who hoped the law would start the task of
solving the huge pension problem.
In a unanimous
decision, the court ruled the law unconstitutional even though it acknowledged
the gravity of the situation. The Court
also pointed a finger at the General Assembly for not fully funding the
pensions stating “…it is a crisis for which the General Assembly itself is
largely responsible.”
Lawmakers and
Gov. Bruce Rauner now face a challenge of once again attempting to reform a
pension system that is over $100 billion in the red. The decision makes it clear that attempts to
diminish the current pension benefits, in the eye of the highest court, will
not withstand a constitutional challenge.
Illinois’ pension
debt, which is often ranked the worst in the nation, is now added to the huge
list of problems that must be addressed sooner rather than later if Illinois’
is going to improve its financial footing.
