IL Universities Seek Softened Pension Approach

Public universities in Illinois are asking Governor Pat Quinn not to cut retirement benefits for current employees in his plan to overhaul state pension programs. Presidents and chancellors of 15 schools recently signed a letter urging Quinn to consider their ability to attract top faculty talent and not to take away "promised benefits" to current employees.
    

Quinn wants to require state employees to contribute more to their pensions, pay more to keep certain benefits, retire later and require schools and universities to contribute. The May 3 letter also seeks a "reasonable" transition to university contributions, a guarantee of proper state funding in the future and more.