Illinois Senate expected to pass pension reform
The Illinois Senate is expected to vote today on a sweeping pension reform bill.
The Senate Executive Committee endorsed it yesterday as part of an effort to reduce the state’s near-$100 billion pension funding deficit.
Last week the House passed a version that would make even deeper cuts in pension benefits by forcing retirees to choose between paid healthcare and cost-of-living pension raises.
The Illinois Retired Teachers Association says the current benefit levels are constitutionally protected; and if either pension reform bill passes, it’ll take the state to court.