The new plan doesn't ask for more from certain employees, but it cuts benefits after they retire. One of the point people on pension reform says it's certainly "no done deal."
"These are things that we've had scored, but again, no one signed off on anything as a package."
Rumors of a deal on pension reform may be a bit exaggerated according to a point person on pensions, Representative Elaine Nekritz (D). She says a plan leaked over the weekend is just that; a plan, and there's no agreement on it right now.
The details involve a change to cost-of-living increases for retirees from a flat 3% to half of inflation. In exchange, current employees would pay less into pensions, about 1% less.
It may be an attempt to keep the deal out of court. It's one option the Pension Reform Committee is exploring. Members hope to have a solution before October's veto session. But, Nekritz says there's still a lot of work to be done.
"We are continuing to meet. We are continuing to negotiate. I feel like we are really very, very close to signing off on something, but we've got to all hold hands and jump into the pool together."
The leaked plan could save the state $145 billion down the road. The unions released a statement on the plan Monday afternoon calling it an "unfair" and "unconstitutional" attack on retirement security.
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