Gov. Quinn: Smaller Pension Benefits to New Hires?


Gov. Pat Quinn says Illinois should offer new state employees fewer pension benefits to save money.

Quinn told reporters in Springfield on Tuesday that he's looking at a two-tiered pension system to maintain current employees' benefits but offer a less-sweet deal to new workers.

The Democrat must present a budget plan on March 18 that closes an estimated $9 billion deficit.

The state's pension obligations to cover workers in retirement cost billions of dollars each year. Quinn says the change would have to be negotiated with employees' unions.

Story source: AP