SPRINGFIELD, IL (KTVI) – The battle over Illinois pension reform is expected to come to a head on Tuesday in Springfield.
According to the St. Louis Post Dispatch legislative leaders say the proposal would save an estimated $160 billion over 30 years. It also would close the enormous shortfall in the state’s pension systems by 2044. The Governor and legislative leaders are pushing for a “yes” vote.
Under the plan, retirement ages would be raised, and the cost of living increases would be cut. Teacher and firefighter unions say if those two things happen, it would make retiring impossible.