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Tag: Michael Madigan
A stripped-down pension reform package absent a controversial cost-shifting provision that would have transferred responsibility for payments of normal costs of pension benefits from the state to employers (universities, school districts and community colleges) passed the House Personnel and Pension Committee for consideration by the full House Thursday. Pension reform legislation stalled yesterday due to...
A pension reform plan outlined Thursday by House Speaker Michael Madigan would shift costs to universities, reduce cost-of-living-adjustments in retirement and offer a choice between accepting the lesser, Tier II cost-of-living-adjustment (COLA) with access to the state’s retiree health care plan or maintaining the current COLA with a freeze on pay raises counting toward future...
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