Pension reform may not be ready soon

Pension reform may not be ready soon

SPRINGFIELD -- As the clock continues to tick on pension reform, lawmakers may not have a deal ready by their next session.
SPRINGFIELD -- As the clock continues to tick on pension reform, lawmakers may not have a deal ready by their next session. They return to Springfield in about a week-and-a-half for veto session.

But, the committee trying to reach a deal doesn't sound close. The committee is staying optimistic, but at the same they aren't sure they'll make the deadline.

They've been talking for more than four months, and it's reported they're close to an agreement on a plan. It would decrease the cost of living increases for retirees while, at the same time, reducing the amount of money state employees are required to contribute to their pensions.

It could save the state about $139 billion down the road. But, one Republican on the committee says "it still isn't soup." The plan recently got the support of the Senate President. He says he's talking to members to try to get enough votes to pass it.

The governor has also said he likes what he's hearing in the plan. The veto session starts October 22.
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