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State pension proposal

A new pension proposal has been introduced in Springfield. The proposal raises the retirement age, lowers cost of living increases, and requires workers to pitch in more for their pensions. And, even the controversial cost shift is included in the plan, meaning school districts will have to start picking up the cost of teacher pensions. The idea is to fund the pension systems at 100-percent within 30 years. The plan hasn't been analyzed by actuaries yet so supporters can't say how much money the state will actually save or how much it will cost state workers.


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