SPRINGFIELD, Ill. -- Illinois House Speaker Mike Madigan (D) Chicago has released details of a pension reform package he is willing to put his name on.
Among the features of Madigan's proposal: employees of Universities, the State of Illinois and downstate and suburban Chicago school districts would pay more into their pension funds.
But Madigan has deleted a proposal shifting pension costs for downstate teachers from the state to the school districts themselves.
Madigan's plan also ties Cost-of-living increases to years of employment--which could help older employees, but sets a wage cap of just under 110-thousand dollars for determining pension benefits.
The state employee's group "We Are One", rejected the Madigan proposal saying it opposed "unfair, unconstitutional pension cuts."
The bill could get a hearing in committee Wednesday.
Click here for Speaker Madigan's full proposal.