IL Pension Reform Deadline Looming - News and Weather For The Quad Cities -

IL Pension Reform Deadline Looming

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The pension deadline is set for July 9, as Governor Quinn set the deadline for the bi-partisan committee that's working on the problem.

The committee was formed last month after lawmakers could not agree on one of two pension reform plans. Some Representatives say they doubt the committee will be able to meet tomorrow's deadline.

"People are living a whole lot longer," said Rep. Patrick Verschoore. "When a lot of these benefit improvements were made, people weren't living nearly this long. Some people will probably live long enough that their compounded COLA increases will be more than the pension when they retired."

They also say something has got to be done soon.

"We need to do something regarding the pension reform because our economy cannot handle us kicking the can down the road any further," said Re. Mike Smiddy.

The pension reform committee asked Governor Quinn to testify today, but he said no, saying members already know where he stands.
     
Also, the Governor will have members of his budget office available for questions.

 

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