There’s no deal on a pension reform plan at the Illinois Capitol…yet.
The Illinois House adjourned without a floor vote on a contentious plan to change the state’s troubled public employee pension system. An Illinois House committee today gave bi-partisan approval to a plan sponsored by Representative Elaine Nekritz. She says she expects it to be called for a vote by the House Tuesday, at the earliest.
It's not clear Illinois lawmakers will come to an agreement on the pension problem anytime soon. But that's not stopping the Teachers' Retirement System from preparing for possible changes. One of the leading pension proposals would force employees to make a choice: give up state-backed health care in retirement, or accept lower pension cost-of-living increases.
Illinois has the worst-funded pension system in the country, and the General Assembly is trying to determine how to resolve the problem. What will Illinois state employees be saying about their retirement plans 30 years from now, based on decisions made today?