Illinois lawmakers tout steps to save taxpayers money on unfunded pension liability
Normal, IL, USA / www.cities929.com May 10, 2021 | 4:21 PM (The Center Square) – Members from both sides of the aisle at the Illinois statehouse say they’re taking small steps to save taxpayers on the $140-plus billion unfunded liability of public sector pensions. State Sen. Robert Martwick, D-Chicago, said after the legislature changed the pension plans a decade ago from Tier I to a plan with fewer benefits, Tier II may not cut it for some retirees. He passed Senate Bill 1675 requiring more state employees to save more on their own through a deferred compensation plan. “So it doesn’t...