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PENSION MEGA-BILL RUMORED THIS WEEK!

4/29/2013
Strong rumors are circulating in the Capitol that  House Speaker Michael Madigan is preparing to develop a pension-slashing “mega-bill” that could dismantle the modest pensions earned by thousands of workers and retirees.


The House already passed three “test bills” that make massive changes to elements of pensions.  These bills cap Cost Of Living Adjustments (COLA) for workers and retirees, raise the retirement age for current workers, and cap the amount of salary that workers can earn for their pensions.

It’s time to call your State Representative to tell him or her to oppose the rumored House mega-bill.  The bill could be considered as soon as this Wednesday, May 1, so please click here to contact your State Rep. or call 888-412-6570 today.

It’s possible that the House may try to advance HB 3411 (Nekritz/Cross) as well.  This bill contains all of the pension cuts mentioned above (included in HB 1165, HB 1166, and HB 1154). In fact, HB 3411 goes even further, forcing new hires in TRS and SURS into a "Tier 3" 401(k)-hybrid retirement account and increasing employee contributions without an ironclad guarantee of state funding. IFT and our We Are One labor coalition partners oppose HB 3411. It has yet to receive a full House vote, but that could happen at any time. Many of HB 3411's components, like the 401(k)-hybrid plan, could surface in the "mega-bill."

Meanwhile, as you may have heard, our coalition leaders are working closely with Senate leadership in an attempt to negotiate a bill we can all support. Those discussions are ongoing, and we will keep you posted. In the meantime, it's very important that we express our opposition to these dangerous House proposals.

Click here to call your House representative, or call 888-412-6570 today.

Thanks for all that you do.

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