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.

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1 Comment

  • Peter

    Why is it that no one from any state or state government will show where all the pension money went to and who authorized it since it never made it to the accounts of the pensions. Did the goveneors pension get fully paid pensions?
    As with Social Security, I remember President Johnson once SSI was taken from the trust and to the GENERAL FUND, on tv he told the public tax payers not to worry your SSI will be there when you retire. Someone should show this speech. And then show that the SSI fund once in the General Fund did not make any interest, was double taxation, used to purchase "stuff" by congress who do not want to pay the IOU's back. SSI if left in the TRUST would of made Billions in investments and kept SSI fully funded. The tax payers were robbed and are still being robbed every day by our elected officials.

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