News

Illinois Lawmaker Proposes Fix To Pension Overhaul

Illinois Lawmaker Proposes Fix To Pension Overhaul

Photo: Newsradio WTAX/examiner.com

SPRINGFIELD, Ill. (AP) — The Illinois Legislature is considering fixing a portion of a statewide pension overhaul that unwittingly takes a year of benefits away from university employees.

Higher education officials say a mistake in the legislation passed by lawmakers in December is causing hundreds of university employees to retire earlier than anticipated.

The bill currently calculates a retiring university employee’s benefits as of last year instead of this year.

State Rep. Chad Hays is a Catlin Republican. He filed legislation on Tuesday that would base benefits on retirement as of June 30 instead of in 2013.

Hays calls the legislation a “very minor technical correction.”

He says he wants to make sure the pension overhaul does not cause “a stampede toward the door” of retirees.

Recent Headlines

in Music

Warhol’s take on Bob Dylan, Lou Reed to be shown in Times Square

bobdylan

Andy Warhol's short films featuring the music legends will be screened on a big billboard in the Big Apple.

in Entertainment, Sports

Bruce Jenner: ‘I am a woman’

brucejenner

The retired Olympic champion confirmed long-running speculation suggesting he is transitioning from male to female.

in Entertainment

This weekend in entertainment history

studio54

A look back at some of Hollywood's most memorable headlines.