State News
6:16 am
Tue August 6, 2013

Sen. Brady says pension committee should have a plan soon

Republican Senator Bill Brady says a committee assigned with finding a pension compromise should settle on a plan in a couple of weeks.

The GOP candidate for governor from Bloomington says there are ‘meaningful elements’ in the strategy outlined by faculty with University of Illinois’ Institute for Government and Public Affairs and endorsed by university presidents around the state.

Brady says that includes altering the current cost of living adjustments to below the current rate of 3-percent annually to reflect the economy, and restructuring financing so the plan includes a funding guarantee. 

The Senator says Governor Pat Quinn and his predecessors are at fault for the nearly 100-billion dollar pension debt:

“We have this problem because this governor and Blagojevich, members of the general assembly – some Republicans,  mostly Democrats… who voted for budgets, borrowed or took holidays- didn’t fund the system.  So it’s important that we solve this crisis to protect the interests of those who pay into the system… every dime they’ve been asked… who protect their streets, and build our roads.”

Brady calls Governor Quinn’s cancelling of legislative paychecks due to the lack of a pension agreement a ‘childish game’ that costs both money and time.

The Senator made a campaign appearance in Champaign Monday.