January 16, 2014
Pension Law Will ‘Adversely Impact’ Employees
 |
| Governor Patrick Quinn signed the new pension law Dec. 5, 2013. |
And William S. Bike, APAC News
THE ILLINOIS General Assembly
passed pension legislation Dec. 3 that University leaders said would “adversely
impact public university employees, place higher education in Illinois at a
competitive disadvantage, and ultimately weaken the state’s economy.”
THE BILL passed the Senate
30-24 and the House 62-53 just minutes later. Democratic House Speaker Michael Madigan and Republican Senate
leader Christine Radogno, among
other top legislators from both political parties, pushed for the plan.
“IN A statement regarding
the public pension funding crisis a year ago, the University of Illinois called
for a pension system that would be reasonable, responsible, sustainable and
competitive with those offered by our peer institutions,” said a statement issued
by U of I President Robert Easter,
UIC Chancellor Paula Allen-Meares, University
of Illinois at Urbana-Champaign Chancellor Phyllis
Wise, and University of Illinois at Springfield Chancellor Susan Koch.
THE PENSION measure “fails to
meet those basic principles,” the statement said.
LAST APRIL, heads of all 14
Illinois public universities sent a six-point proposal to Gov. Pat Quinn and legislative leaders as a
long-term solution for reforming the university pension system.
“WE ARE profoundly
disappointed that in nearly three years of engaging the legislative process on
this crucial issue, the State’s nine public universities’ counterproposals will
not be included,” University leaders said.
THE MEASURE passed by
legislators in December is complex, said Katherine
Laing, executive director of the University’s Office of Governmental
Relations. How it would affect UIC employees and retirees “really depends on
your particular circumstances,” she said.
“IT WILL severely upset the
status quo,” Laing said.
THE PENSION law would reduce
cost-of-living adjustments, increase the retirement age for some employees, and
put a cap on pensionable earnings. “The
likely changes arguably lessen the retirement commitments made to employees and
retirees, and their net effect also will harm the public higher education
sector in Illinois,” University leaders said in their statement.
THE PLAN would mean less
money for University employees and retirees, said David Merriman, professor of economics and public administration. “It’s
potentially a very large cut in benefits,” said Merriman, faculty member in the
Institute of Government and Public Affairs.
THE PENSION plan also includes a reduction in employee contributions for some participants and stronger legal requirements that the State makes its pension funding commitment.
“IT WOULD certainly improve
the funding of the pension plan and move it toward stability, but it’s
difficult to tell exactly how much,” Merriman said.
EXPERTS SAY the measure will
be challenged in court because the Illinois Constitution says state retirement
benefits “shall not be diminished or impaired.”
THE WE Are One Illinois
Coalition, a labor coalition working to protect public employees’ pensions,
noted in a Dec. 4 statement that the bill is 325 pages long and passed just 24
hours after legislators received it. The coalition said the bill “robs
teachers, nurses, caregivers, police, and other public employees and retirees
who faithfully made their pension contributions. It’s unfair, unconstitutional
pension theft legislation.”
THE STATEMENT went on to say, “Make
no mistake—we will sue to protect retirement security and seek justice.”
FOR MORE information, visit:
- Institute of Government and Public Affairs, www.igpa.uillinois.edu.
- Northern Illinois University State Pension and Budget Update, www.niu.edu/statebudget/pension_reform/.
- We Are One Illinois, www.weareoneillinois.org.
- See more at: http://news.uic.edu/illinois-lawmakers-pass-pension-changes-for-state-employees#sthash.VQBV8W3y.dpuf.
APAC, SUAA to Host Pension Reform Town Hall
PRESENTERS WILL be Jeff Houch, Legislative Liaison, SURS (State Universities Retirement System of Illinois), and Brenda Russell, President of the UIC Chapter of SUAA.
PANELISTS WILL address SURS retirement plan design change details as provided by Senate Bill 1 (Public Act 98-599) and what it means for SURS members (both current employees and retirees), legislative challenges trying to overturn SB1, and retiree health insurance issues.
THE PRESENTERS will address questions submitted via the registration form. They will also allow time at the end of the presentation to answer the audience's questions. Registration is required. Go to: https://illinois.edu/fb/sec/4045729.
APAC Meetings Scheduled
ALL APs are invited to
the monthly APAC meeting at 12:30 p.m. on the second Wednesday of the month.
Meetings are held either in Room 5175 of the College of Medicine Research
Building, 909 S. Wolcott, or Room 2750 of University Hall on the East Campus.
Next meeting is February 12 in Room 5175 of the College of Medicine Research
Building. For information, call (312) 996-0306.
APAC Provides Sriram with Deeper Understanding of Chicago Campus Issues
 |
| APAC Member Uma Sriram. |
A PERSONAL invitation from
University colleague and Academic Professional Advisory Committee Chair Michael Moss brought Uma Sriram into active APAC service
last summer.
“I HAD heard of the
committee, but didn’t pay a lot of attention,” Sriram recalled of her APAC
exposure prior to May 2013. “Michael Moss—he’s a good friend—sent out a call
for volunteers, and asked me to attend a couple of meetings and see if I liked
what I saw.”
ATTENDING THOSE initial meetings showed Sriram that the group included many people she
already knew, while offering the opportunity to meet more from across the
University.
“THE ABILITY to network and
the chance to meet other Academic Professionals and talk about things on a
campus level—to understand issues and needs on the Chicago campus” spurred
Sriram’s decision to join the committee, she said.
LEARNING MORE about the Chicago
campus particularly interested Sriram, whose work as Assistant Director of
Accounting Consulting Group takes her to all University of Illinois campuses.
The consulting group is part of University Accounting and Financial Reporting,
which serves all three campuses and is responsible for the University’s
financial reporting and accounting, including setting up funds and ensuring
units understand the policies and procedures for funding use. The consulting
group, which Sriram joined in November 2007, provides assistance to units for
these functions and goes into units as needed.
“I REALLY do enjoy it,”
Sriram said of her APAC participation.
“When I was not part of APAC, I had only a small understanding of
issues. When sitting on the sidelines, I didn’t realize what was happening. I
now realize a lot more, and I have gotten to know all the APAC members and have
established contacts I can reach out to.”
ELECTION TO the subcommittee
for professional development is proving especially fulfilling for Sriram. “This
is of particular interest to me,” she said. “I always look for ways to improve
myself and learn more, so this seemed a natural fit.”
SHE CITED a well-attended
and successful “Speed Networking” event in November 2013 that provided
in-person connections for Academic Professionals from the East and West sides
of the Chicago campuses. The 90-minute session featured three-minute meetings
for all participants—and resulted in requests to repeat the event. A two-part
session focusing on the art of persuasion and featuring techniques, strategies
and case studies is currently underway. Sriram said the committee is aiming to
hold additional professional development events in upcoming months.
PRIOR TO her current
position in the Accounting Consultant Group, Sriram served as Assistant
Director of Finance in Campus Auxiliary Services for six-and-a-half years.
MARRIAGE BROUGHT her to Chicago from Cochin, on India’s southern tip, in 1989. Sriram
had already studied accounting and earned a master’s degree in India. Once in
the U.S., she completed the Certified Public Accounting (CPA) exam, and later
also completed the Certified Management Accountant (CMA) credential, which
demonstrates command of critical accounting and financial management
skills.
ALONG WITH her spouse, who
works as a self-employed IT consultant, Sriram raised two children: a daughter
who is attending Tufts University for both veterinary medicine and public
health, and a son who will graduate in May from the University of Michigan with
a degree in mechanical engineering and a plan to earn a master’s degree in
biomedical engineering.
“I LOVE to travel,”
Sriram said, citing journeys to Costa Rica, Peru, Austria, Hungary, Germany,
Switzerland, and Greece. She also returns often to India, including two trips
recently to help siblings care for their mother and her home.
AND YES, people frequently
inquire if her name is the same as a well-known American actress. “‘Is it like
Uma Thurman?’ they ask. And I tell them,
‘Yes,’” Sriram said. “Otherwise, they
call me ‘Yoo-ma.’”
TO CONTACT Sriram, email
usriram@uic.edu.
THE CONTINUING CRISIS
SUIT FILED to void new pension law. Reuters, Dec. 27, 2013: http://www.reuters.com/article/2013/12/27/usa-illinois-pensions-idUSL2N0K618D20131227.
A
PUBLIC pension
plan that works—right here in Illinois. State
Journal-Register, Dec. 26, 2013: http://www.sj-r.com/article/20131226/NEWS/131229714?template=printart.
SURS
POSTS solid
investment results. SURS website, Nov. 6, 2013: http://www.surs.com/news-article/111913/surs-posts-solid-fy-13-investment-results.
RICH MILLER has written a summary and analysis of the current status of
litigation challenging the constitutionality of the new pension reform law on
the Capitol Fax.com website;
click the word “website” to get to the link.
HOW THE Government Could Make Public Colleges and Universities Free
for All Students. ThinkProgress, Jan.
12, 2014: http://thinkprogress.org/education/2014/01/12/3151391/cost-public-college-free/.
UNIVERSITY MAY provide supplemental pension program. News-Gazette, Jan. 14, 2014: http://www.news-gazette.com/news/local/2014-01-14/ui-seeks-pension-balm-employees-stung-state.html.
UNIVERSITY MAY provide supplemental pension program. News-Gazette, Jan. 14, 2014: http://www.news-gazette.com/news/local/2014-01-14/ui-seeks-pension-balm-employees-stung-state.html.
Vol. 7, No. 1, January 2014
ISSN 1946-1860
Editor: William S. Bike
Staff: Neal Lorenzi, Gail Mansfield, Susan S. Stevens, Monica M. Walk
Vice Chair: Ahlam Al-Kodmany
Chair: Michael Moss
Secretary: Mary Berta
Treasurer: Agnes Kawalec
Web Chair: Jeff Alcantar
Web Chair: Jeff Alcantar
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