"Goldilocks Plan" could be state's financial fix
Updated: December 5, 2012
SPRINGFIELD -- The state could be on its way to a financial fix. A group of lawmakers has a new plan to try to get public pensions under control. It's been an issue all year.
Now, lawmakers think they finally have the right answer. One lawmaker is calling it the "Goldilocks Plan." The last one was too big, the one before that, too small, and this one is just right.
Here's what's on the table. The biggest piece of the puzzle involves shifting pension costs to downstate school districts.
It would happen gradually though, which would make it a little easier on local districts' budgets. It also raises retirement age, depending on how old you are. And it inserts a clause stating courts can step in if the state doesn't make payments to the retirement systems.
The goal is to fully fund the system in 30-years without breaking the bank. Lawmakers admit it's not perfect, but it's a start.
What is interesting about this pension fix compared to all the rest, though is that lawmakers from both sides of the aisle are behind it. They're going to spend the next month tweaking it and making some changes.
They say we could see some action on the proposal when lawmakers return to Springfield in January. They say, if it's not ready, they don't want to rush it. They'd rather get it right.
Now, lawmakers think they finally have the right answer. One lawmaker is calling it the "Goldilocks Plan." The last one was too big, the one before that, too small, and this one is just right.
Here's what's on the table. The biggest piece of the puzzle involves shifting pension costs to downstate school districts.
It would happen gradually though, which would make it a little easier on local districts' budgets. It also raises retirement age, depending on how old you are. And it inserts a clause stating courts can step in if the state doesn't make payments to the retirement systems.
The goal is to fully fund the system in 30-years without breaking the bank. Lawmakers admit it's not perfect, but it's a start.
What is interesting about this pension fix compared to all the rest, though is that lawmakers from both sides of the aisle are behind it. They're going to spend the next month tweaking it and making some changes.
They say we could see some action on the proposal when lawmakers return to Springfield in January. They say, if it's not ready, they don't want to rush it. They'd rather get it right.
