Pension Reform Shockwaves. Andrew Malahowski, Franczek Radelet P.C. Eric DePorter , LaGrange Highlands District 106 Wednesday, May 15, 2013, 11:30-12:30. Agenda. Current IMRF and TRS framework Proposed pension reforms and constitutional issues
Andrew Malahowski, Franczek Radelet P.C.
Eric DePorter, LaGrange Highlands District 106
Wednesday, May 15, 2013, 11:30-12:30
-0.5% in CY2011.
Article XIII, Section 5
“Membership in any pension or retirement system of the State, any unit of local government or school district, or any agency or instrumentality thereof, shall be an enforceable contractual relationship, the benefits of which shall not be diminished or impaired.”
United States Constitution
Article 1, Section 10
“No State shall . . . pass any . . . Law impairing the Obligation of Contracts. . .”.
*As of the publication date of this presentation, there are over a dozen different reform proposals that are being considered (some seriously; others not so much). Therefore, this will be the aleatoric portion of the presentation.