Word broke midday Wednesday that the four legislative leaders agreed to a pension deal that will reduce cost-of-living adjustments, raise retirement ages, expand 401(k)'s throughout the state's retirement systems, and potentially other pension cuts. Leaders have said specific details will not be available until Friday, November 29.
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Politicians are expected to return to Springfield on Tuesday, December 3, to vote on a new pension bill that will likely be as damaging to public employees and retirees as any yet proposed.
The following statement is attributable to the We Are One Illinois coalition of unions regarding the passage of Senate Bill 1523, intended to affect the Park Employees' Annuity and Benefit Fund of Chicago:
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