A Christmas tree and other holiday decorations bring a festive spirit to the capitol on Monday -- today the statehouse will be bustling during last-minute negotiations ahead of a landmark pension vote.
Illinois legislators will be asked today (12/3) to take what many say could be the most important vote of their careers. They've been called back to Springfield to take up a measure that would drastically alter the state's retirement plans. Doing so would have obvious ramifications for state employees, teachers and university workers whose pensions are at stake. But the impact of a vote is far more widespread. What happens could also affect everything from the state's credit rating and Illinois' next budget, to the 2014 elections. The outcome is anything but certain.
Illinois lawmakers remain at odds over how to handle the state's $100 billion of pension debt. But there's a chance that this spring the General Assembly may finally do something about it. After years of no major action, there are not one, but two major packages designed to reign in Illinois' retirement costs. The House and Senate passed competing plans. Both of them seek to save Illinois money by cutting current and retired government workers' benefits. But one important group of government workers are being left out of both deals - judges.