Public Act 98-599: New Pension Legislation

On December 5, 2013, Governor Pat Quinn signed Public Act 98-599 into law. That legislation implements sweeping changes to the pension benefits for current retirees and employees in the Teachers' Retirement System, State Universities Retirement System, State Employees' Retirement System, and the General Assembly Retirement System. CTBA is busy at work analyzing that new legislation.

Read a Crain's editorial, Bad News, Illinois: Pension Deal Didn't Actually Solve Anything, about the legislation written by Ralph Martire (Executive Director) and Amanda Kass (Budget Director and Pension Specialist).