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Final 9-25-16 Delaware

Republican lawmaker pitches plan to put “dent” in Illinois pension debt

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Republican lawmaker pitches plan to put “dent” in Illinois pension debt

The plan’s sponsor says it would not solve the $111 billion pension shortfall, but it would “move it in the right direction.”

Republican lawmaker pitches plan to put “dent” in Illinois pension debt

(KTRS/AP) – Republican lawmakers in Illinois are pitching a plan to put a dent in the state’s worst-in-the-nation pension debt.

The plan would call for employees nearing retirement to take a lump sum for a portion of pension benefits, rather than an annual payment. The plan’s sponsor says it would not solve the $111 billion pension shortfall, but it would “move it in the right direction.” The Illinois Supreme Court ruled in 2013 that a cut to pension benefits was unconstitutional.

Democratic leadership have not commented on the plan.

 

The Associated Press contributed to this report

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By Colin Jeffery

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