Published Online: May 12, 2009
Published in Print: May 13, 2009, as Illinois Governor Drops Proposal to Increase Teachers' Pension Costs

News in Brief

Illinois Governor Drops Proposal to Increase Teachers' Pension Costs

Gov. Pat Quinn of Illinois has canceled his call to increase pension costs for Illinois teachers, university staff members, and state employees.

The governor, a Democrat, had proposed raising workers’ pension contributions by 2 percent in an effort to cut government spending. He paired the increase with a plan to create a two-tiered retirement system that offered fewer benefits to new employees.

Mr. Quinn said he gave up on the unpopular idea of higher pension contributions to help his push for a two-tiered retirement system, which will be a hard sell even without the increased pension costs. Under his proposal, teachers would have contributed 11.4 percent of their paychecks to retirement, up from 9.4 percent.

The proposals were part of the governor’s plan to close a budget deficit expected to top $11.6 billion in the upcoming fiscal year. The plan also includes raising income taxes and trimming spending in some areas.

Vol. 28, Issue 31, Page 4

Related Stories
You must be logged in to leave a comment. Login | Register
Ground Rules for Posting
We encourage lively debate, but please be respectful of others. Profanity and personal attacks are prohibited. By commenting, you are agreeing to abide by our user agreement.
All comments are public.

Back to Top Back to Top

Most Popular Stories

Viewed

Emailed

Recommended

Commented