TRIBUNE: Madigan pension reforms pass House

 

The Illinois House today approved a far-reaching pension reform plan pushed by Speaker Michael Madigan that is headed for an uncertain fate in the Senate.

 

The proposal aims to erase the state’s nearly $100 billion pension debt by scaling back cost-of-living increases, raising the retirement age for young workers and requiring employees to take more out of their paychecks. It applies to Downstate and suburban teachers, rank-and-file state employees, legislators and university employees.

 

“The time has come for this bill,” said Madigan, D-Chicago.

 

Read More: http://www.chicagotribune.com/news/politics/clout/chi-madigan-pension-reforms-pass-house-20130502,0,6769573.story

END

Tags: , , ,

Comments are closed.