Pension Solution Continues To Elude Legislators

A solution for dealing with Illinois’ 100 billion dollars of pension debt continues to elude legislators, even as the spring session rapidly approaches its end. The General Assembly is scheduled to adjourn Friday.

Lawmakers have taken votes to deal with the pension debt.
Problem is … the House passed a plan that Speaker Mike Madigan says will save more money.
And the Senate passed a different plan that his fellow Democrat, President John Cullerton, says is better because it’s more likely to be upheld by the courts.
Neither side is backing down.
Cullerton says Senate Democrats will meet today to discuss what’s next:

CULLERTON: “Our options are limited but we’ll try to reach an agreement.”
Democrats have more than enough members to pass legislation without Republican votes, though it’s doubtful they could do it on a controversial issue like pensions. Still, it leaves GOP Rep. Jim Durkin, of Western Springs, questioning.

DURKIN: “What the point of having a supermajority – the Democrats in both the House and the Senate – if they can’t agree on the most troublesome issue facing the state of Illinois, and that’s our public pension system.”

-Amanda Vinicky

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One Response to Pension Solution Continues To Elude Legislators

  1. George Atterberry says:

    The issue is that current retirees are being forced to pay the brunt of the pension debt via the outright theft of the future earning power of their COLAs – that were so crucial in their decision to retire. They do not get a do-over on the terms and financial numbers given to them by SERS in their final agreement to leave State service. Their day was done when they retired; requiring them to fork over a third of their pension check is just absurd and I can’t believe WUIS has not focused on this issue and has, instead, maid that issue the 900 lb. Gorilla in the Room by omission, Imagine the enormous financial impact of retirees spending one third less in their communities in Central Illinois and beyond.

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