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Illinois House Panel OKs Bipartisan Pension Plan

Lawmakers say plan would reduce state retirement systems' debt by 30 percent

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    NEWSLETTERS

    A House committee on Thursday approved a bi-partisan pension overhaul that requires more employee contributions and floats the issue of shifting pension costs to local school districts.

    The bill -- HB3411 -- is one of several attempts pending before lawmakers to address the state's nearly $100 billion pension crisis.

    The House Personnel and Pensions Committee approved it 9 to 1, sending it to the full House. It's sponsored by House Republican Leader Tom Cross and Democratic state Rep. Elaine Nekritz.

    They lawmakers said their plan would reduce the state retirement systems' debt by 30 percent.

    The proposal requires employees to contribute more and delays cost-of-living increases, among other things. It also aims to get school districts and universities to pick up pension costs for future employees.