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Below are the latest stories on the pension issue in Illinois.

Pension Framework Could Save $145 Billion

ilga.gov

A bipartisan panel tasked with solving Illinois' multibillion-dollar pension crisis is considering a framework that could save the state about $145 billion over 30 years.  

The Associated Press on Friday obtained an outline of ideas the 10-person committee is considering.  

It calls for ending automatic 3 percent cost-of-living increases for retirees. Increases would instead be linked to the rate of inflation.  

Employees would have to pay 1 percent less to their own retirement. And the pension systems would be fully funded within 30 years.  

Sen. Kwame Raoul is committee chairman. He says the group hasn't reached a consensus and "our work is not done.''  

Illinois has a nearly $100 billion pension shortfall. Lawmakers voted in June to form the committee after hitting an impasse on a pension fix.

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