Sen. Brady Addresses Pensions, Gov’s Race In Champaign
State Sen. Bill Brady (R-Bloomington) says he expects a legislative committee assigned with finding a pension compromise to finalize a plan in a couple of weeks.
The candidate for governor said there are ‘meaningful elements’ in the strategy outlined by faculty with University of Illinois’ Institute for Government and Public Affairs, and endorsed by university presidents around the state.
Brady, who addressed Champaign County's Active Senior Republicans Monday morning, said that includes altering the current cost of living adjustments to below the current rate of 3-percent annually to reflect the economy, and restructured financing so the plan includes a funding guarantee.
The Senator said Gov. Pat Quinn and his predecessors are at fault for the nearly $100 billion pension debt.
"We have this problem because this governor and (former governor Rod) Blagojevich, members of the general assembly – some Republicans, mostly Democrats - who voted for budgets, borrowed or took holidays - didn’t fund the system," he said. "So it’s important that we solve this crisis to protect the interests of those who pay into the system - every dime they’ve been asked - who protect their streets, and build our roads.”
Brady called Gov. Quinn’s cancelling of legislative paychecks due to the lack of a pension agreement a ‘childish game’ that costs both money and time.
Quinn faces three primary opponents in March, but said he can built upon his narrow loss to Gov. Quinn in 2010 and appeal to Chicago area voters.
"Any Republican is going to have (a challenge)," he said. "We have the benefit of the last campaign. We got to know the people, they got to know us. 1,700,000 already entrusted me with their vote for governor, and that's what we're going to build on."