Tweaked pension law should protect retirees' earnings

Tweaked pension law should protect retirees' earnings

Update: 5:04 pm, 5/9/14, Friday ILLINOIS -- There's good news for some employees of state universities.
Update: 5:04 pm, 5/9/14, Friday
ILLINOIS -- There's good news for some employees of state universities. The board of the State Universities Retirement System took a vote. It changes the interpretation of part of the state's new pension law. It's expected to keep many employees from losing part of their pension benefits if they don't retire by June 30. If it hadn't been changed, hundreds of employees were considering retiring early.
Original: 5:00 pm, 5/7/14, Wednesday
ILLINOIS -- Lawmakers are trying to ease the minds of university employees. They're tweaking a bill which is scaring state workers into early retirement. The bill now ensures benefits will not fall below what employees have earned as of June 30, 2014. That's the case even if they retire late under the new formula. This comes after a large number of employees who didn't intend to retire, left.
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