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July 31, 2014, 6:26 am
970 WMAY News

Pension Reform Plan Votes Being Gathered, Unions Stand in Opposition


Work will continue through the weekend, trying to line up votes for a pension reform plan that is already drawing fire from public sector unions.

 

Details of the plan have not been formally released yet, but Crain’s Chicago Business reports it would cap cost-of-living adjustments, based upon a worker’s years of service.

 

Workers under the age of 45 would also have to work more years before they would be eligible for benefits.

 

And workers would have the option of moving into a 401-k-style plan.

 

The four legislative leaders have agreed to the framework of the plan, and Governor Pat Quinn has issued a statement in support of it.

 

But the unions will be intensely lobbying against it ahead of a planned vote during a special legislative session next Tuesday.

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