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Illinois Senate pension proposal

The Senate is moving forward with a union-backed pension bill instead of the plan passed by the House. Senate President John Cullerton says the House plan is sure to be challenged in court because it forces workers to accept reduced benefits while the union-backed plan gives workers a choice to reduce benefits. For example, workers could opt to keep their health insurance when they retire but they'd receive smaller raises each year or, they can forgo health insurance and keep their three percent compounded cost of living adjustments. The plan would save about 46-billion dollars in the next 30 years.

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