Illinois Lawmakers Consider Pension Buyout Proposals

Both plans would allow members of the five state-funded retirement systems to take a lump-sum payout at retirement and forego regular pension payments. Nekritz said she wants additional hearings to bring in witnesses from the private sector who have been involved with similar plans and a financial planner who can provide details about the likely participants. Bill sponsors say the plan would be completely voluntary and open to all of the pension systems covering judges, lawmakers, state employees, downstate teachers and university workers.

Topics:  nekritz   bill   lawmakers   pension   systems   retirement   plans   

 

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