Quinn: Madigan Pension Bill Deserves Senate Vote
Gov. Pat Quinn says House Speaker Michael Madigan's pension-reform plan deserves a Senate vote. The Democratic governor said the proposal is comprehensive.
Illinois has nearly $100 billion in pension debt because of years of state underfunding.
Senate President John Cullerton has a different idea he plans to call for a vote Thursday afternoon. Public employee unions back that proposal.
The House approved the Madigan bill last week. It would require employees to pay 2 percent more toward retirement benefits. It would reduce annual cost-of-living increases for retirees and raise the retirement age for workers under 45.
Cullerton's proposal would offer employees a choice between health insurance or cost-of-living increases. He says it would survive a court challenge.