Cullerton Backing Compromise Pension Deal
Published on October 3 2013 12:02 pm
Last Updated on October 4 2013 6:03 am
Written by Greg Sapp
Illinois Senate President John Cullerton is backing a new pension deal that could save more than $130 billion over 30 years.
Cullerton said it's a compromise plan that makes changes to COLA benefits and decreases employee contributions. He said the plan is "less unconstitutional" than those offered previously, but it'll still likely be challenged in court.
Cullerton is hoping the bill will be ready for a vote by October 22, when lawmakers head back to Springfield for the fall veto session.