A sweeping bipartisan pension reform measure topped a busy legislative week, with lawmakers also holding hearings on the state budget and approving a new school voucher program for low-income students, according to Senator Tim Bivins.
On March 24, lawmakers passed Senate Bill 1946, which included numerous pension reforms that have been debated for years. Illinois has the worst-funded pension system in the nation, and pension payments threatened to swallow increasingly larger chunks of the state budget without reforms.
Ultimately, it was the threat of a major credit downgrade that helped spur majority Democrats and Governor Pat Quinn to adopt reforms. Most Republicans supported the reforms, but noted that the changes were needed largely because majority Democrats in 2005 raided state pensions and abandoned a long-term funding plan that had been enacted under Republican control in 1995." />Skip to Main Content
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