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Gov. Pritzker Discusses Pension Fix

The state’s two-tiered pension system might be accruing retirement benefits that break federal law.

 

14 years ago, the state changed pension benefits that new employees would earn, but those benefits must be as generous as Social Security. That might not be the case and a fix for Tier 2 employees might be needed. That won’t come without additional state dollars being spent to make sure benefits fit federal safe harbor requirements. Governor JB Pritzker says he understands that the current system might need a fix.

 

 

There hasn't been an official cost connected to any possible fix for Tier 2 pensions.

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