The Illinois House did not act on proposed public pension reform as the spring session of the General Assembly ended Thursday night.
Earlier in the week, House Speaker Michael Madigan transferred sponsorship of the bill to House Minority Leader Tom Cross after eliminating a provision from the bill that would have shifted the employer contribution burden for teachers' pensions to local school districts and universities.
Gov. Pat Quinn told Mr. Cross not to call for a vote on the bill because of a lack of support from majority Democrats in the House, said Sara Wojcicki Jimenez, press secretary to Mr. Cross.
The bill would give current employees and retirees two options — to keep retiree health care and accept a lower cost of living adjustment, or keep the COLA and lose post-retirement health-care access. Those who elected to keep the COLA would lock in their current salary for pension calculation purposes.
Mr. Quinn will convene party leaders next week to hammer out a bill, which will need a three-fifths majority to pass once the spring session concluded. Mr. Quinn in April released a proposal that would include an employee contribution increase and a higher retirement age.
“As I have repeatedly made clear, inaction on pension reform is not a choice,” Mr. Quinn said in a news release. “We must fundamentally reform our pension system, and we must enact bold reform that eliminates the unfunded liability.”
The five statewide pension plans have a combined unfunded liability of $83 billion, according to the governor's office.