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Senate President Says Pension Reform Deal Coming Together

The leading Senate Democrat is willing to go along with pension reform that is estimated to save taxpayers $1 billion a year.

Last week Governor Bruce Rauner came out with a pension reform plan he said jived with Senate President John Cullerton’s idea to give employees choices between a reduced cost of living increase while raises are included in pensions or not including raises in pension and allowing for the 3 percent compounded cost of living allocation. Rauner also said he wants to take raises out of collective bargaining. Cullerton quickly stated that wasn’t in his bill but Monday clarified his stance.

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The Chicago Democrat said he talked with the governor Monday and there is an agreement on the language that lawyers are working out, but the next big hurdle is to work towards passage. Illinois taxpayers are on the hook for nearly $113 billion in unfunded pension liability.

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