Illinois lawmakers have approved long-awaited reforms to state and local pension systems as one means of addressing the state’s massive debt, according to Senator Tim Bivins.
Senate Bill 1946 applies to all state and local pension systems with the exception of Chicago fire and police, and downstate/suburban fire and police. It does not affect current employees and retirees, and applies only to employees hired after the bill becomes law.
Senator Bivins said legislators of both parties supported the package as a means of trying to correct the state’s fiscal crisis and keep the current pension systems from collapsing.
“It’s definitely something that needed to be reformed. Unfortunately, this is a situation that has been created over a number of years,” Senator Bivins said. “It’s not something that occurred overnight, and there is plenty of blame to go around for not making payments to the pension systems.” " />Skip to Main Content
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