New Illinois pension fix floated (Chicago Tribune)

December 4, 2012 – As state government leaders struggle to reach agreement on pension reform, a bipartisan group of lawmakers is floating a plan that’s a mix of new and old ideas to try to break the logjam. State workers, teachers, university employees and legislators would have to kick in more money from their paychecks each year to underwrite their pensions, and some of them would have to wait longer to retire. The plan also would rein in cost-of-living increases that have exponentially increased the pension burden on taxpayers and set a 30-year target date for fully funding the financially bedraggled systems.

Link to Full Article: http://www.chicagotribune.com/news/politics/clout/chi-new-illinois-pension-fix-floated-20121204,0,7592823.story

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