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Illinois House approves major pension reform bill

The Illinois House today approved a major change in the state pension system that could save an estimated $100 billion by cutting down the exponential growth of automatic cost-of-living increases for retiree paychecks.

The 66-50 roll call represented the most far-reaching vote taken in the spring legislative session on pension reform and sends the measure to the Senate, which just approved a much less ambitious pension bill.

Click here for more on this story from the Chicago Tribune

IllinoisStateCapitol-Tribune

State Capitol in Springfield Thursday, Nov. 10, 2011. (E. Jason Wambsgans / Chicago Tribune)

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