Illinois legislators could take action on a pension reform deal this week. The deal reached by legislative leaders aims to overhaul Illinois' severely under-funded public pension system. It calls for the retirement age to gradually increase and the state may cap how much of their employees' earnings can be used to calculate pension benefits.
Union leaders are trying to block the latest pension deal. AFSCME Executive Director Henry Bayer says it's is almost identical to a plan that fell flat on its face earlier this year. While lawmakers agree that there needs to be a solution to the pension crisis, many are skeptical that this agreement will get through the Legislature, which meets tomorrow.