Pension Reform Legislation Passes Both Chambers of the Illinois House

SPRINGFIELD, Ill. – Pension reform legislation passed both the Senate and the House of Representatives today with the support of Rep. Deb Conroy (D-Villa Park).

“The unresolved pension crisis in Illinois has been a detriment to the state’s economy,” said Conroy. “The uncertain and unstable economic environment has reduced our state’s credit rating and cost tax-payers millions of dollars.”

Senate Bill 1 reforms four of the five state pension systems.  Notable changes to the law in this reform bill include capping pensionable income, raising the retirement age of workers and lowering the cost of living adjustment for retirees. The legislation will now be sent to the governor for his review.

“This measure preserves pensions for those who have paid into the system for years and protects vital state services like K-12 education and programs for seniors, the developmentally disabled and veterans,” Conroy said. “Although this one action will not cure the state’s fiscal problems, by working together and across the aisle to pass this bipartisan bill we have taken a step toward getting our state back on track. But, we have more work to do to rein in wasteful spending.”

For more information, contact Conroy’s constituent services office at (630) 415-3520 or RepDebConroy@gmail.com.