“Flaw in law's wording means some employees will lose
major benefits unless they retire before July 1.
A wording glitch in a new state pension law is prompting
hundreds, and perhaps thousands, of professors and other state university
employees in Illinois to consider retiring before July 1 to avoid significant
benefit cuts.
The cost of waiting could amount to several thousand
dollars a year for individual retirees, on top of other cuts in pension
benefits, according to official estimates.” READ
MORE
Title: “Pension ‘fix’ may spark an exodus”
Author: Julie Wurth
Source: The News Gazette
Date Published: April 18, 2014
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