Madigan pension plan easily passes House panel – chicagotribune.com

1 May

 

SPRINGFIELD—House Speaker Michael Madigan easily won committee approval today of his new pension plan that aims to lower the state’s heavy retirement system debt by scaling back benefits to public employees, taking more from their paychecks and raising their retirement age.

The measure contains elements of prior proposals approved in the House but ties them together into a broader package of revisions to the pension law covering teachers outside Chicago, rank-and-file state workers, university employees and lawmakers. It moved to the full House on a 9-1 vote.

via Madigan pension plan easily passes House panel – chicagotribune.com.

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