IL Lawmakers Talk About Pensions … Again

There’s more talk about changing Illinois’ pensions again. Lawmakers say they need to change the state’s Tier 2 pension system either to make it more attractive, or make it compliant with federal laws. Specifically, there are worries that Tier 2 pensions don’t meet the federal requirement to hold people harmless if they don’t qualify for social security. Any changes won’t be cheap. A report from last year said tweaking the Tier 2 system would cost at least five billion-dollars. Lawmakers may try and move something in the lame duck session that begins next month.

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