State university employees are rushing to retire because of last year’s state pension reform law. Now a new interpretation of that law indicates it may not drastically reduce pension amounts for some retirees after all.
Illinois Governor Pat Quinn wants state institutions, such as Northern Illinois University, to contribute to their workers' pensions. Currently, the state pays the employer share of contributions. Quinn's plan would slowly shift the responsibility for paying the "normal cost of pensions" to universities, community colleges and school districts.