Senate committee OKs 2 pension overhaul plans

SPRINGFIELD – An Illinois Senate committee has advanced two similar proposals to address Illinois’ worst-in-nation pension problem.

One plan sponsored by Sen. Daniel Biss replicates part of a previous plan that delays cost-of-living increases, pushes back the retirement age for some and calls for more employee contributions. The Senate Executive Committee approved it Wednesday 11-4.

The other sponsored by Senate President John Cullerton echoes the plan. But it contains a backup plan if deemed unconstitutional. The plan combines provisions from a Senate-approved measure along with increased contributions and some reduced benefits. Gov. Pat Quinn supports it. The committee approved it 11-3.

The votes send both plans to the Senate floor.

Opponents claim neither is constitutional and some say Cullerton’s doesn’t save enough money.

Illinois has nearly $100 billion in unfunded pension debt.

Comments

Comments

Watch Now

Player embeded on all DDC instances for analytics purposes.

NIU Senior Center Andrew Ness Talks Spring Practice

More videos

Reader Poll

What is your favorite Easter candy?
Chocolate Easter bunny
Creme eggs
Jelly beans
Peeps
Other