Ill. House OKs cap on salary amount for pensions - Fox 2 News Headlines

Ill. House OKs cap on salary amount for pensions

Posted: Updated:

SPRINGFIELD, Ill. (AP) -- Lawmakers have found at least one fix for the state's multibillion-dollar pension problem that could pass the Illinois House.

Two Republicans joined Democrats Thursday in voting 65-7 to cap the salary that pension benefits are based on at the Social Security Index. Currently that's $113,000 per year.

Supporters estimate it could save Illinois $1 billion annually.

The vote was part of a process Democratic Speaker Michael Madigan is using to gauge where legislators stand on possible reforms. It's the first amendment in two days of debate to get enough votes to pass.

Republicans have criticized the process and have refused to participate in most of the votes.

Legislators rejected a 10-year freeze on cost-of-living adjustments and a measure to require employees to contribute 4 percent more to their retirement.

Share Your Photos & Video

  • Politics NewsMore>>

  • Mayors' group pushes for pension reform

    Mayors' group pushes for pension reform

    Monday, April 21 2014 12:04 PM EDT2014-04-21 16:04:17 GMT
    money-roll-genericmoney-roll-generic
    More than two dozen Illinois mayors are set to hold a news conference, hoping to encourage state lawmakers to make changes to pension systems for local police and fire departments.
    More than two dozen Illinois mayors are set to hold a news conference, hoping to encourage state lawmakers to make changes to pension systems for local police and fire departments.
  • US Sen. Durbin says he's taking Oberweis seriously

    US Sen. Durbin says he's taking Oberweis seriously

    Sunday, April 20 2014 11:10 AM EDT2014-04-20 15:10:55 GMT
    U.S. Sen. Dick Durbin says he's taking his opponent in the November election more seriously than any challenger since he first was elected to the Senate.
    U.S. Sen. Dick Durbin says he's taking his opponent in the November election more seriously than any challenger since he first was elected to the Senate.
  • Quinn: Tighter controls after Medicaid paid $12M for Illinois dead

    Quinn: Tighter controls after Medicaid paid $12M for Illinois dead

    Saturday, April 19 2014 9:57 PM EDT2014-04-20 01:57:44 GMT
    The state of Illinois is trying to recoup roughly $12 million its Medicaid program paid in medical services for dead recipients.
    The state of Illinois is trying to recoup roughly $12 million its Medicaid program paid in medical services for dead recipients.
Powered by WorldNow

WJBK-TV | Fox 2
16550 West Nine Mile Rd.
Southfield, MI 48075

Main Station: (248) 557-2000
Newsroom: (248) 552-5103

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices