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September 2, 2014, 4:17 am
970 WMAY News

Report: Legislative Leaders Reach Pension Deal


Illinois’s four legislative leaders say they have an agreement on a pension reform plan to be voted on next week.  But they’re not saying exactly what’s in it until they can brief rank-and-file lawmakers, something that’s unlikely to happen before Friday because of the Thanksgiving holiday. 

 

House GOP leader Jim Durkin tells the Chicago Sun-Times in broad terms that the plans includes changes to cost-of-living allowances and the retirement age, along with provisions on “defined contribution” plans.  All of those elements are likely to draw fierce opposition from unions representing teachers, state workers and other public sector employees. 

 

The General Assembly will hold a one-day special session Tuesday to consider the new plan.

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