Pensions are at the top of the to-do list in Springfield. It was the first thing lawmakers talked about after inauguration Wednesday. In between all of the excitement, Senate President John Cullerton filed the very first bill. It is a pension reform measure and is very similar to other plans that have surfaced over the last few weeks.
The newest plan includes caps on cost of living increases, higher retirement age and paying in more from your paycheck. The difference between this bill and the rest, it includes a backup plan in case the plan gets shot down in court. Plan B gives state workers options on retirement plans. Lawmakers say it's been a frustrating issue and are ready to attack it with a fresh approach.
The new legislative session gives lawmakers a chance to have a more open discussion and knock out the issue once and for all.