Tagged: pension bill

Illinois lawmakers are bringing a new proposal on the table to fix the state’s multi-billion dollar pension crisis. Democratic Representative Elaine Nekritz and about a dozen other lawmakers are expected to announce new legislation today to repair Illinois' $95 billion pension liability. The plan calls for raising employee contributions and a tiered retirement age. It also would shift some of the costs for teachers' pensions to school districts.

Illinois House Speaker Michael Madigan says he's dropping his proposal to make state schools and colleges pay employee retirement costs.  

A plan to cut government pensions and shift some retirement costs to schools has cleared its first hurdle in the Illinois Legislature.  A House pension committee approved the bill 6-3 yesterday.