Partial Pension Reform Bill Passes State Senate
By: Alex de Leon
Updated: March 20, 2013
Springfield - A solution to the state's $100 billion pension crisis clears a hurdle today.
The Senate passed a reform bill. Here's how it works:
Teachers would either have to give up their retiree healthcare to keep their current benefits. Or, teachers could save their retiree healthcare, but reduce their current benefits.
The bill is expected to save the state nearly $20 billion over the next 30 years and only affects teacher retirement benefits.
It now goes to the House.
The Senate passed a reform bill. Here's how it works:
Teachers would either have to give up their retiree healthcare to keep their current benefits. Or, teachers could save their retiree healthcare, but reduce their current benefits.
The bill is expected to save the state nearly $20 billion over the next 30 years and only affects teacher retirement benefits.
It now goes to the House.
