A couple of state lawmakers who are leaders on pension restructuring are cautioning against doing anything further without considering the consequences. “The road to pension hell is paved with rash actions. It’s paved with hast actions. It’s paved with actions that aren’t thought out carefully,” State Sen. Daniel Biss (D-Evanston) said at a news conference today (Tuesday) at ther state Capitol.
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He says there has yet to be an analysis of governor’s desire to move state workers and teachers into a less-generous pension plan or a 401(k)-style program – including the requirement that to be exempt from Social Security, the plan must be at least as good. Biss and State Rep. Elaine Nekritz (D-Northbrook) are introducing resolutions to require scrutiny before lawmakers take any action. The governor is counting on $2.2 billion in savings from his plan in order to balance next year’s state budget.