Lawmaker: Pension group not done, vetting ideas : Jacksonville Journal-Courier

19 Apr

SPRINGFIELD, Ill. (AP) — An Illinois lawmaker says a group seeking solutions to the state’s pension problems hasn’t finished even as Gov. Pat Quinn plans to outline his own plan this week.

Sen. Michael Noland says the group has not specifically addressed asking local school districts to pick up employer contributions for their teachers which the state now pays.

But the Elgin Democrat says the four-member panel has discussed adjusting cost-of-living increases. One suggestion would be to suspend annual pension increases temporarily to help the state catch up on the $80 billion funding gap in its five pension systems.

Other ideas include raising the retirement age, demanding greater employee contributions and requiring the state to pay annual pension obligations before anything else.

Noland did not rule out finishing before Quinn announces his plan.

via AP News : Jacksonville Journal-Courier.

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