ILLINOIS LAWMAKERS ARE DISCUSSING NEW PENSION PLANS, OFFERING RETIREES A LUMP SUM PAYOUT OF THEIR PENSION BENEFITS.

NEW LEGISLATION WOULD GIVE WORKERS THE OPTION OF TAKING THEIR PENSION AS A CASH PAYOUT INSTEAD OF BENEFITS BEING DISPERSED OVER TIME. REPRESENTATIVE MARK BATNICK OF PLAINFIELD SAYS RETIREES COULD THEN DO WHAT THEY PLEASE WITH THE MONEY.

REPRESENTATIVE MIKE FORTNER OF WEST CHICAGO SAYS THE MONEY COULD THEN BE ROLLED INTO AN I-R-A.

SUPPORTERS SAYS THIS WOULD SAVE THE STATE MONEY OVER TIME BUT CRITICS QUESTION WHETHER THERE WOULD REALLY BE ANY IMPACT ON THE STATE’S 11 BILLION DOLLAR UNFUNDED PENSION LIABILITY.

CRITICS QUESTION HOW MUCH THIS WILL REALLY EASE THE STATE’S 11 BILLION DOLLAR PENSION DEBT.