SPRINGFIELD (AP) — The Illinois Senate rejected a comprehensive pension overhaul Wednesday, but narrowly approved a scaled-back plan targeting teachers.
The bill addressing the Teachers' Retirement System, sponsored by Senate President John Cullerton, was estimated to save up to $40 billion over the next three decades. It offers employees a choice on whether they want retirement health care or reduced annual cost-of-living increases, among other things.
The bill failed by one vote on a first attempt, but Cullerton quickly used a parliamentary procedure to be able to recall the matter, which he did minutes later. It was approved 30-22.
"It's not often you can push a green button and save $18-to-$40 billion dollars over the next 30 years," Cullerton told lawmakers as they headed into a second vote.
Opponents said Cullerton's plan didn't go far enough in addressing Illinois' worst-in-the-nation pension problem. The state has nearly $100 billion in pension debt because for years it has either shorted or skipped payments altogether.
Lawmakers have been deadlocked in an approach to solving the problem, despite urgent pleas from Gov. Pat Quinn, who had backed Cullerton's bill. Since the spring session began in January, lawmakers have taken a number of approaches, often time with overlapping ideas.
Earlier Wednesday, senators voted down a pension overhaul sponsored by state Sen. Daniel Biss, an Evanston Democrat. His plan, which replicated part of an earlier proposal, would have required public employees to contribute 2 percent more toward retirements and push back the retirement age in increments by age group. The plan also required the state to fully fund its pensions.
Opponents called the plan unconstitutional, which Biss acknowledged. But Biss said his plan offered a good compromise on other matters.
"The best thing we can do is balance these priorities against each other," he said, later telling lawmakers that their vote wouldn't be easy.
Today is Thursday, July 31, the 212th day of 2014. There are 153 days left in the year.
1864 -- 150 years ago: A corps of surgeons now occupies the new hospital quarters at the Garrison Hospital on the Rock Island Arsenal. A fence has been installed to enclose the prison hospital. 1889 -- 125 years ago: B. Winter has let a contract to Christ Schreiner for a two story brick building with a double store front on the south side of 3rd Avenue just west of 17th Street. The estimated cost was $4,500. 1914 -- 100 years ago: Germany sent simultaneous ultimatums to Russia and France, demanding that Russia suspend mobilization within 12 hours and demanding that France inform Germany within 18 hours. In the case of war between Germany and Russia, France would remain neutral. 1939 -- 75 years ago: Civil service offices at the post office and the Rock Island Arsenal were swamped as more than 700 youths sought 15 machinist apprenticeships at the Arsenal. 1964 -- 50 years ago: Last night, American Legion Post 246 in Moline figuratively handed over the trousers to a female ex-Marine and petticoat rule began. Olga Swanson, of Moline, was installed as the first woman commander of the post . 1989 -- 25 years ago: The Illinois Quad City Civic Center captured the excitement and interest of a convention of auditorium managers this weekend in Reno, Nev. Bill Adams, civic center authority chairman, said the 10,000-seat arena planned for downtown Moline has caught the eye of construction firms, suppliers, management teams and concession groups.