Hearing on pensions plan set for Monday – DailyHerald.com

6 Jan

SPRINGFIELD — State Rep. Elaine Nekritz said Sunday she believes there is still time to get a pension deal done before a Wednesday deadline, and a hearing on one proposal she agreed to with House Republican Leader Tom Cross is set for Monday.

“I certainly, to my core, hope for a resolution to this,” Nekritz said. “As much as anybody, I hope to move on to different issues than this.”

Though a plan that would cut teachers’ and state workers’ retirement benefits is scheduled for a preliminary hearing before lawmakers Monday, the proposal could change before it’s final.

“There is enough time to get it done,” Nekritz said.

Supporters of cutting benefits are trying to hustle because when the next legislature featuring about three dozen new lawmakers is sworn in Jan. 9, all legislation resets and supporters have to start over.

But even if the Illinois House approves the legislation Monday, the Illinois Senate still hasn’t even committed to being in Springfield Tuesday.

It would, among other things, prevent retired teachers and state workers from getting yearly benefit increases until they turn 67 years old, and those increases would be less generous than they are now.

In addition, workers would have to eventually pay 2 percentage points more of their paychecks toward their own retirements, and the state would make a legal guarantee to pay its share every year, too. More…

via Hearing on pensions plan set for Monday – DailyHerald.com.

Advertisements

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: