Illinois Governor Pat Quinn says he will sign the pension reform bill the legislature passed Tuesday, December 3,2013.
In a statement issued immediately after the measure passed, Quinn said the measure will “erase the unfunded pension debt and provide 100 percent funding for the (state’s pension) systems.”
“Today, we have won. The people of Illinois have won,” Quinn said.
The bill passed the state Senate with a vote of 30-24, with three members voting “present.” (To see how each senator voted, click here.) The House passed the measure by a 62-53 vote with one member voting “present.” (To see how each representative voted, click here.)
Union representatives complained that the reform would push state employees to work until they are 67 instead of basing the retirement age on their years of service. In addition, those 50 and older will miss one bump of their cost-of-living increase. Workers 43 and under will miss five bumps spread out over the years.