Currently, the state's pension system is underfunded by about $100 billion. The unions' plan would save more than $5 billion.
The House plan would reduce the debt by about $30 billion. Lawmakers say the difference will really mean a lot when the state budget is put together.
Unions have threatened to sue the state if the House Bill passes because they claim its unconstitutional. But, retired teachers have threatened to sue over the union proposal also claiming its against the law.