Lawmakers may agree to pension plan

Published 05/02 2013 05:06PM

Updated 05/02 2013 06:22PM

SPRINGFIELD -- The latest pension plan is gaining steam at the capitol. It passed out of the House Thursday, but it's not a done deal just yet.

A lot of ideas have been put on the table, but supporters say this is the best one out there. They hope this will make it to Quinn's desk.

They say it's a comprehensive pension plan. It's something they argue the others weren't. Reps spent a long time debating the bill. Many agreed it wasn't an easy vote to make.

Here's what workers and retirees can expect. They'd have to pay more in contributions. There would be a cap on cost of living adjustments and the retirement age would change for some.

House Speaker Michael Madigan (D) is behind the bill. He says reform is needed now more than ever. Others seem to feel the same way.

Critics say this plan doesn't do enough in the way of savings. They also think it's unfair to state workers and retirees. There's a big question about whether it's constitutional.

The bill now heads back to the Senate. They'll have to approve changes the House made to it. If that happens, it will then go to Governor Quinn who supports the plan.

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