“…In the latest legal filing, the state argued that the Great Recession ‘wreaked havoc with the state's finances’ and created $43 billion of the state's unfunded pension liability… It [is] argued that increased longevity has added an additional $9 billion in liabilities…” (The Chicago Tribune, January 13, 2015).
Lawyers from Mayer Brown LLD state: “Police Powers are an inherent attribute of state government that may not constitutionally be alienated… A state may not constitutionally alienate its core Police Powers, and certainly not without a clear statement of intent to do so… Although [the] Court ultimately decides what the constitution means, deference is due to the views of coordinate legislative and executive branches of government that the pension reform act is constitutional… A principle of liberal construction in favor of pensioners does not overcome the right and obligation of the state to exercise Police Power to address a fiscal emergency…”
(BRIEF OF THE INTERNATIONAL MUNICIPAL LAWYERS ASSOCIATION AS AMICUS CURIAE IN SUPPORT OF DEFENDANTS-APPELLANTS).
For Special Matters before the Illinois Supreme Court/ (Case No. 118585 - In re Pension Reform Litigation): Click Here.