Proposed pension salary limit could save Illinois $1 billion


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Originally Posted Online: March 07, 2013, 4:48 pm
Last Updated: March 07, 2013, 8:41 pm
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SPRINGFIELD (AP) — Lawmakers have found at least one fix for the state's multibillion-dollar pension problem that could pass the Illinois House.

Two Republicans joined Democrats Thursday in voting 65-7 to cap the salary that pension benefits are based on at the Social Security Index. Currently that's $113,000 per year.

Supporters estimate it could save Illinois $1 billion annually.

The vote was part of a process Democratic Speaker Michael Madigan is using to gauge where legislators stand on possible reforms. It's the first amendment in two days of debate to get enough votes to pass.

Republicans have criticized the process and have refused to participate in most of the votes.

Legislators rejected a 10-year freeze on cost-of-living adjustments and a measure to require employees to contribute 4 percent more to their retirement.
















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  Today is Thursday, May 23, the 143rd day of 2013. There are 222 days left in the year.
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1938 -- 75 years ago: Work on Aledo's new $38,000 swimming pool was started thismorning at South Park when ground for the pool was broken by Mayor John W. Murphy.
1963 -- 50 years ago: Students and teacher at Moline High School called today "MissLeona Day" day at the school in honor of the government teacher who retires at theend of the school term. Although she's been teaching for 43 years at the school, Miss Dayfound a new way of arriving at the school this morning. At 7:30 a.m., a police squad carpulled up in front of Miss Day's home and escorted her to school. A caravan of students' cars joined the procession along the way.
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