Illinois lawmakers could vote Tuesday on pension reform plan

State lawmakers could vote Tuesday on a pension reform plan that was reached amongst legislative leaders last week.

The overhaul would raise retirement ages for many public workers and teachers outside of Chicago.

It would also reduce cost-of-living increases for retirees and eliminate the $100 billion pension debt in 30 years.

Gov. Pat Quinn and fellow Democrats, who control the General Assembly, support the plan.

Republicans favor reforming the retirement system, but analysts say they are cautious of handing Democrats a victory ahead of a key election year.

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