Senate passes Cullerton's pension plan on 2nd try
SPRINGFIELD – The Illinois Senate rejected a comprehensive pension overhaul Wednesday, but narrowly approved a scaled-back plan targeting teachers.
The bill addressing the Teachers' Retirement System, sponsored by Senate President John Cullterton, was estimated to save up to $40 billion over the next three decades. It offers employees a choice on whether they want retirement health care or reduced annual cost-of-living increases, among other things.
The bill failed by one vote on a first attempt, but Cullerton quickly used a parliamentary procedure to be able to recall the matter, which he did minutes later. It was approved 30-22.
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