IL Pension Reform

May 29, 2012 at 11:11 pm Leave a comment

Many states are currently discussing or have already discussed reforming their pension systems.   Illinois is going through an interesting debate right now.   The Chicago Tribune has an article entitled “Illinois Pension Reform Clears First Hurdle” by Ray Long and Rick Pearson located on their web site at http://www.chicagotribune.com/news/watchdog/pensions/chi-illinois-pension-reform-clears-first-hurdle-20120529,0,5833211.story.  The article discusses an interesting choice in the proposed legislation that participants can choose an old system with 3% Cost of Living (COLA) adjustment and give up retiree health insurance when they retire or forgo the COLA and be able to participant in retiree health insurance coverage when they retire.   The focus on retiree health insurance is noteworthy.  Retiree health insurance has disappeared from most private organizations and is a rare employee benefit.

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Entry filed under: Pension Reform. Tags: , , , , .

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Christine Gurney

A pension professional who shares her thoughts and ideas about the pension world for industry members and anyone else interested.

@ChristineGurney

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