Rep. Lou Lang (D) of Skokie thinks he has a plan that addresses both those issues. He recently filed a bill calling for some major changes: state workers would have to pay an extra 3%, the retirement age would be pushed back to 67, and school districts would have to take on the costs for teacher pensions.
That's not all. He also wants to make the income tax hike permanent, then use that money to pay down the pension debt. Governor Quinn recently learned of the bill and says it's not just about creating more revenue. He thinks the pension system needs a complete overhaul. The pension system's unfunded liability is nearing $100 billion.
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