Governor Says Pension Idea Is Positive



Gov. Pat Quinn says the outline of a pension reform proposal from a bipartisan panel is "positive indeed."
 
However, the Chicago Democrat was less clear about whether he's fully behind it or not, saying he wants to see final details.
 
He told reporters Sunday after an unrelated event that the panel tasked with coming up with a way to address the state's nearly $100 billion pension problem has made progress.
 
Pensions have been Quinn's top issue. He recently halted lawmakers' pay after lawmakers missed another one of his deadlines to solve the issue.
 
The pension committee is considering a plan that calls for ending automatic 3 percent cost-of-living increases for retirees. Increases would instead be linked to the rate of inflation.
 
Employees would contribute 1 percent less to their own retirement. And the pension systems would be fully funded within 30 years.
 
Sen. Kwame Raoul is committee chairman. He says the group hasn't reached a consensus and "our work is not done."

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

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