Wed May 22, 2013
Analysis Questions Senate Pension Plan Savings
A state pension overhaul backed by government employee unions may save half what advocates promised. The new figures come from the state's pension systems, based on how many employees might choose options contained in the Senate bill. The plan gives choices to working and retired teachers, university workers and state employees. These include keeping cost-of-living pay bumps or access to state-subsidized health insurance.
The Illinois House has a competing plan. Representative Elaine Nekritz says the latest numbers from the Senate version show it would reduce debt by less than $6 billion.
"For us, it's always been about the math. So we wanted to get the math out there." - Rep. Elaine Nekritz
Senate President John Cullerton didn't dispute the numbers, but called the information incomplete. Backers of the Senate plan say the House proposal is not constitutional -- and if it's overturned by the courts -- it's savings would be reduced to zero.
Illinois Public Radio's Amanda Vinicky contributed to this report.