Post by Logan on Jan 12, 2017 3:55:16 GMT -6
The Illinois Senate on Monday easily approved Mayor Rahm Emanuel's plan to shore up two city worker pension funds, but the measure faces an uncertain future now that it's headed to a skeptical Gov. Bruce Rauner.
The mayor's bill is aimed at preventing retirement systems for municipal workers and laborers from going broke in about a decade. The two funds are a combined $21 billion short of what's needed to pay out future benefits, and the plan relies on newly hired employees paying more toward their retirement.
The House approved the bill 91-16 last month, and on Monday the Senate followed suit, 41-0. But the Rauner administration, which is seeking a broader deal to cut costs in state worker pension systems, responded Monday by throwing some cold water on the plan.
"The governor cannot support this bill without real pension reform that protects taxpayers," Rauner spokeswoman Catherine Kelly said in a statement.
Read more: www.chicagotribune.com/news/local/politics/ct-rahm-emanuel-pension-senate-met-0110-20170109-story.html
The mayor's bill is aimed at preventing retirement systems for municipal workers and laborers from going broke in about a decade. The two funds are a combined $21 billion short of what's needed to pay out future benefits, and the plan relies on newly hired employees paying more toward their retirement.
The House approved the bill 91-16 last month, and on Monday the Senate followed suit, 41-0. But the Rauner administration, which is seeking a broader deal to cut costs in state worker pension systems, responded Monday by throwing some cold water on the plan.
"The governor cannot support this bill without real pension reform that protects taxpayers," Rauner spokeswoman Catherine Kelly said in a statement.
Read more: www.chicagotribune.com/news/local/politics/ct-rahm-emanuel-pension-senate-met-0110-20170109-story.html