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Pension plan "closer than ever"

Published 05/01 2013 04:55PM

Updated 05/01 2013 05:34PM

SPRINGFIELD -- Lawmakers say they are closer than ever to passing a pension overhaul. There's one month left before lawmakers leave for summer break and they say pensions are at the top of their "to-do" list.

Pension reform cleared another hurdle Wednesday morning. It's the same bill which already was approved by the Senate. It's now in the House, where Speaker Michael Madigan (D) made some changes. So far, it's getting the green light.

The plan caps benefits, raises retirement age and asks workers to pay in more. It would be for state workers, downstate teachers, university employees and the General Assembly. It leaves out the controversial cost shift for downstate school districts.

Supporters say it's a mix of all the best ideas and they have the evidence to back it up. Not everyone is on board though. A lot of critics say it only fixes a piece of the pension puzzle and goes against the state constitution.

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