Lawmakers return Tuesday for pension vote

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Springfield - Lawmakers are expected to meet tomorrow to discuss pension reform.

House and Senate leaders emerged from a meeting last Wednesday to announce a tentative agreement on a proposal they plan to bring to the floor for a vote. House Speaker Michael Madigan says the plan would save $160 billion over 30 years on pension accounts that are $100 billion in debt.

The state will make a supplemental payment of $364M in fiscal year 2019, and add a billion dollars annually through 2045.

In addition, state employees will contribute 1% less of their salary towards their pensions.

It's a problem that lawmakers do agree needs to be fixed, but as some say, it needs to be fixed the right way.


Regardless of who is to blame for the state's pension crisis, state representative Bill Mitchell says that this all started by ignoring a basic principle.

"The problem isn't with people who are getting a pension.  The problem is with the politicians who've done other things with that money that is supposed to be put in those pension systems," Mitchell said.


 



 

 

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