Court Finds Public Act 98-0641 Unconstitutional
On July 24, 2015, the Circuit Court of Cook County issued ruling regarding Public Act 98-0641, the statute which provided for actuarially-based funding and modified pension benefits for participants and retirees of the LABF. The Act was declared unconstitutional and void in its entirety. The Court held the statute unconstitutional because it violated the Pension Benefits Clause in the Constitution of the State of Illinois. It is expected that the decision will be appealed directly to the Illinois Supreme Court for final resolution. In the meantime, the opinion is being reviewed with respect to the Laborers' Fund and we will provide updates on our website as they become available. Click here to view the Court's opinion.