Ill. lawmaker introduces pension abuse bill

October 12, 2011 3:49:03 PM PDT
A northwest suburban lawmaker has introduced legislation to reform what he calls pension abuse.

State Senator Matt Murphy says his bill bases public employee pensions on a recipient's final public salary, excluding other income such as for union leadership.

Murphy said one retired teachers union official receives a $240,000 annual public pension.

"The teachers in the TRS system are at a 40% funding level, the worst in the country. And they have their leaders who are supposed to be watching out for their interest taking six times the average teacher's pension out of the system. I found this to be unsustainable and unacceptable," he said.

Murphy says his bill covers current and future hires in Illinois and Chicago public retirement systems.

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