Biz, civic groups blast Cullerton pension plan – Blogs On Politics – Crain’s Chicago Business

13 Mar

A coalition that includes many of the state’s leading business groups and some civic organizations is stepping up its opposition to the pension-reform bill being offered by Illinois Senate President John Cullerton.

In a joint letter, organizations including the Illinois and Chicagoland chambers of commerce, Illinois Manufacturers’ Association, Taxpayers Federation of Illinois and Metropolitan Planning Council say that Mr. Cullerton’s bill would not help pare the state’s unfunded pension liability much and “could put the state in an even much more tenuous financial situation.”

Mr. Cullerton’s spokeswoman responded that as today’s committee vote on Mr. Cullerton’s bill nears — it’s scheduled for late this afternoon — “the more business and political interests weigh in and dig in.”

The core of the group’s argument, which parallels criticism earlier from Civic Committee of the Commercial Club President Tyrone Fahner, is that Mr. Cullerton’s proposal to guarantee retirees access to health care in exchange for some trims in pension benefits won’t do enough to cut the state’s overall liability. More…

via Biz, civic groups blast Cullerton pension plan – Blogs On Politics – Crain’s Chicago Business.

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