Calls needed against latest pension-cutting bills in Illinois House
New pension-cutting bills could come up for a vote in the Illinois House of Representatives during the week of May 22.
Modeled on the previous SB 16 and SB 11, House Bill 4027 would require employees who participate in the State Employees Retirement System and State University Retirement System to select between two options:
- Option 1: All pay increases going forward do not count in calculating your pension benefit. For purposes of determining your pension, your salary would never be any greater than it is today; however, your pension in retirement would be adjusted to keep up with inflation (COLA).
- Option 2: Your future pay increases would count in calculating your pension benefit; however, your COLA would be cut so your pension would not keep up with inflation in your retirement years.
Regardless of the option employees choose, they would receive a much smaller pension benefit during the course of their retirement compared to benefit they were promised.
TAKE ACTION: CALL YOUR STATE REP!
Call the AFSCME hotline at 888-912-5959 and urge your state representative to protect public employee pensions, VOTE NO on HB 4027 or any bill that would cut pensions.