The Illinois Senate will only meet on January 2 through January 4. The Illinois House will only meet on January 6 through January 8. The Senate may return on January 8 if needed.
State Budge Crisis Task Force – New Jersey Report
Moody’s downgraded Illinois’ credit outlook from stable to negative, but reaffirmed the the A2 credit rating on general obligation debt. Moody’s cited Illinois’ pension funding problems, political pressures, and constitutional protections for pension benefits for its decision.
On December 6, 2012 the Third District Appellate Court heard Oral Argument in Buckner v. University Park Police Pension Fund. The issue in the case is whether the Pension Board erred in denying the officer a line of duty disability pension. The circuit court affirmed the Pension Board’s decision denying the officer a line of duty disability pension. PGM will post the Court’s decision as soon as it is released.