CHICAGO - The Illinois State Toll Authority needs to come up with $1.7 million to $2.6 million to close the books on its supplemental pension fund.
The tollway board voted unanimously in late August to end the plan Sept. 15.
The current asset size of the supplemental plan was "not available at this time," said Sari Mintz, manager of public relations at the Toll Authority.
The plan drew fire from lawmakers after seven departing officials collected lump-sum payments of more than $100,000 from the supplemental plan.
State Auditor General William Holland has called the plan "unique in government."
The pension plan allowed non-union officials to collect benefits from the Illinois State Toll Highway Authority and from the Illinois State Employees' Retirement System.
The plan will be only 57% funded by the end of the year, so the toll authority must find the money for lump-sum payments to close the books.
The money will come from the agency's 1995 operations and maintenance budget, said Executive Director Ralph C. Wehner.
"It's not going to be a hardship to us. It will postpone some things we may have wanted to do in '95 or '96, but I don't know yet what those things are, because this is the first thing we're putting in the budget," Mr. Wehner said.
Tollway officials are considering restructuring the plan into a savings fund, an individual retirement account or an annuity fund, Mr. Wehner said, so future contributions come from the plan's participants.