“Suslick,
Gordon and Cahill are just three of the 3,500 to 4,000 University employees who
will lose significant benefits if they do not retire by July 1, a result of
pension reform legislation passed by the Illinois General Assembly in December.
The reform made sweeping changes for
state employees, including cutting cost-of-living adjustments and raising the
retirement age for many younger employees, to help save the state’s massively
underfunded pension system.
But
one unintentional effect the bill had was significantly cutting the retirement
benefits of those already eligible to retire if they do not retire by the time
the bill goes into effect on July 1.” READ
MORE
Title:
“Pension reform typo leaves thousands hanging in the balance”
Author:
Jonathan Hettinger
Source:
The Daily Illini
Date
Published: April 21, 2014
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