Illinois union leaders on Friday criticized the details of a controversial deal to reform the state's woefully under-funded public pensions, as legislative leaders revealed more specifics of the deal they reached on Wednesday. The agreement contains proposals to raise the retirement age and reduce automatic increases in pension payments, according to an overview of the bill released by the office of powerful Illinois House Speaker Michael Madigan. Union opponents of the plan say it is little changed from a Madigan-backed proposal that was overwhelmingly defeated by the Illinois Senate earlier this year. "It's a bad rerun of a movie that we saw months ago and for public servants and retirees, it's a horror film," said Anders Lindall, spokesman for the American Federation of State, County and Municipal Employees (AFSCME).
via Business News - Yahoo Finance http://finance.yahoo.com/news/illinois-union-leaders-bash-pension-235242342.html
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