by Robert H. Jordan
Anchor/Reporter

Illinois has one of the nation’s worst-funded pension systems, and  Democrats in Springfield seem to be handcuffed, unable to get any meaningful pension reform passed.  Republicans see this as an opportunity to pass legislation of their own.

House Speaker Michael Madigan and Senate President John Cullerton will be the key legislators to determine if meaningful pension reform gets enacted during a special session this week.  Governor Pat Quinn has already said he cannot sign anything until a bill lands on his desk.

Now Republican lawmakers and members of the Illinois Policy Institute (IPI) say they have a plan that is growing in popularity in other states.

A defined contribution plan is a type of retirement plan in which the employer and the employee contribute to an account.  Only the employer contributions are guaranteed — not future benefits.

Illinois Poicy Institute CEO John Tillman said nothing in Springfield is getting done because politicians there are not interested in the citizens of Illinois.  Tillman says they are more worried about the consequences of going against the unions and their political power and funding than they are the taxpayers and voters of Illinois and the poor and disadvantaged who are trying to get a leg up and get ahead in life.

“Until there’s a consensus built around the people that care about the poor and disadvantaged, and we consider ourselves among them … you’re not going to see reform,” Tillman told reporters today at a news conference at the Thompson Center.

Even if the Democratic proposals do pass, Repblicans say that will only reduce the debt by $21 billion, taking us back to 2011 and not erasing the problem at all.

Read the story at wgntv.com