THE BLOG
10/04/2013 12:59 pm ET Updated Dec 04, 2013

Promise for Pension Reform?

Senate President John Cullerton is getting behind a pension reform compromise bill being hammered out by the General Assembly's special, 10-member conference committee that has been working on a bill since June. It'll save $138 billion over the next 30 years and bring the state's five pension funds to full funding. That's less than the $163 billion House Speaker Michael Madigan's defeated bill would have saved, but a lot more than Cullerton's original bill. The new bill could come up for a vote when the General Assembly returns to Springfield Oct. 22. Despite Cullerton's backing, there's no guarantee this bill would pass. I've got details in my blog post today.