By: Brittany Flaherty Theis
In an opinion dated May 8, 2015, the Illinois Supreme Court held that Public Act 98-599 (the “Act”), amending the Illinois Pension Code, is unconstitutional. The Act reduced the retirement annuity benefits for individuals who first became members in four of Illinois’ five State-funded pension systems prior to January 1, 2011. In the opinion, the Court acknowledged that the financial challenges faced by the state and local governments in Illinois are significant, but explained that it is the Court’s obligation to ensure the law is followed.
Whitt Law will describe and explain the Illinois Supreme Court’s decision shortly. Please return in the coming days to learn more about the Act and the Court’s reasoning in finding it unconstitutional.
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