However, Representative Lou Lang (D-Skokie), proposed a brand new plan. It calls for everyone with a public pension to pay three percent more with no cuts to benefits. The flip-side; extend the state income tax increase, then put the state on a 50-year payment plan to get the pension funds up to 88% funding.
He says it's fair, constitutional and the plan our state needs to break the gridlock. The committee is supposed to agree on a plan to move forward by July 9. That's Governor Quinn's deadline. Lawmakers at the hearing said they actually think it's reasonable and are going to try to get the job done on time.