* A host of people representing Illinois businesses signed an open letter to legislators today…
We are writing as a coalition of Illinois’ major employers and civic groups to ask you to support the bipartisan pension reform bill that was agreed to by the four legislative leaders last week. The bill is to be discussed on December 3rd in a Conference Committee hearing.
The pension crisis is by far the most pressing economic issue facing the State of Illinois today. Despite rapidly escalating pension contributions that are consuming the State’s budget and crowding out funding for critical State services, the fiscal health of the pension funds themselves continues to deteriorate. The bill is a good bill and deserves your support. It incorporates a number of benefit reforms that have been widely discussed and that we have supported in the past.
While not a solution to all of the state’s fiscal problems, this bill is a significant step forward. It will stabilize the pension systems and help put Illinois on the path to fiscal stability. We should note our strong support is conditioned only on the final language of the bill reflecting the reform provisions previously outlined.
We urge you to vote in the best interest of every Illinois citizen, public employee and pensioner and vote yes for the bipartisan pension reform bill.
The letter is signed by…