IL House Passes Pension PlanFriday, 3 May 2013
After years of talks, the Illinois House has approved a comprehensive pension-reform plan.
The house voted 65-51 Thursday, and the plan is meant to aid the $97 billion deficit the state faces.
The legislation requires employees to contribute 2% more of their earnings to their pensions.
They would also have to delay retirement and accept less-generous annual cost-of-living increases.
In return, the state would guarantee it would make its required contribution every year.