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New Illinois pension-reform proposal to be unveiled Wednesday

Story Created: Dec 5, 2012 at 8:16 AM CDT

Story Updated: Dec 5, 2012 at 8:17 AM CDT

By Jayette Bolinski | Illinois Watchdog

Wednesday is the last day of the fall veto session for the Illinois General Assembly.

That means no pension reform will take place before the holidays, nor will action on a borrowing bill that would enable the state to take out a loan to pay down its backlog of bills.

Those issues, as well as others, could be addressed during the legislature’s special “lame-duck” session in early January.

State Rep. Elaine Nekritz on Wednesday will unveil a new, last-ditch pension-reform proposal for lawmakers to consider during the January session. The bill has not been filed yet, but The State Journal-Register has some details. Among other things, it apparently has state employees kicking in more for their pensions, reduces the cost-of-living increases, prolongs the retirement age, shifts pension costs to local school districts, and includes protections against the state taking pension holidays in the future.

Stay tuned Wednesday for more.

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