Pension Showdown



Both chambers in the General Assembly are set for a showdown over a solution to the state’s $97 billion pension problem.
 
The Senate voted 40-16 Thursday to advance its bill, sponsored by Senate President John Cullerton.
 
His plan would give workers and retirees a choice in retirement benefits. He says it's the only approach to solving Illinois' nearly $100 billion pension crisis that will hold up in court.
 
But House Speaker Michael Madigan prefers a plan he says would save the state three times more money.
 
Public-employee unions have said they'll file a lawsuit if Madigan's bill passes. They say it violates a clause in the state constitution that says pension benefits can't be reduced.

But then again, teacher's unions have threatened to sue if Cullerton's pension plan passes.

(Copyright 2013 by The Associated Press. All rights reserved.)

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Topics : LaborSocial Issues
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Locations : Illinois
People : John CullertonMichael Madigan
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