One of the major issues Illinois’ new governor addressed in his first budget proposal were changes to the state’s pensions.
Governor Bruce Rauner says his pension reform plan will save taxpayers over two-billion dollars in fiscal year 2016, and over one-hundred-billion over thirty years. The governor says his plan is constitutional by keeping promises of the past but changing things moving forward. Illinois News Network has more.
Rauner’s plan eliminates pension spiking, eliminates using overtime to determine pension benefits, and gives employees hired before 2011 a buyout option in return for a voluntary reduction in cost-of-living adjustments.
The Governor says his pension reform proposal excludes police officers and fire fighter.