By Karen Pierog, Yahoo News
Illinois public sector labor union leaders on Wednesday pushed back against proposals to reform state pensions that could reduce their benefits, warning that they would file a lawsuit if necessary.
In early January, the state legislature could debate a plan unveiled by House lawmakers this month that would boost workers’ pension contributions, raise retirement ages and limit cost-of-living increases for retirees. The aim is to fully fund the state’s five pension funds in 30 years.
Henry Bayer, executive director of the American Federation of State, County and Municipal Employees Council 31, said the state’s solution comes down to asking workers to pay more for reduced benefits.