House doesn't have 'Plan B' for pension reform

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by AP

KMOV.com

Posted on May 2, 2013 at 6:51 PM

 SPRINGFIELD, Ill. (AP) -- Rep. Elaine Nekritz says the Illinois House does not have a “Plan B” should the courts rule a comprehensive pension-reform plan is unconstitutional.


House lawmakers voted 62-51 Thursday to send the measure to the Senate.
 
Nekritz is a Democrat from Northbrook. She has worked for years to address Illinois’ $97 billion pension crisis.
 
The legislation requires employees to contribute 2 percent more of their earnings to their pensions. They would also have to delay retirement and accept less-generous annual cost-of-living increases.
 
Opponents say the bill is unconstitutional because it diminishes the benefits of existing retirees. They have vowed to challenge the bill in court should Gov. Pat Quinn sign it into law.
 
Nekritz believes the Illinois Supreme Court could be swayed by the state’s desperate financial situation.
 

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