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Article updated: 5/8/2013 8:54 AM

A closer look at the pension options

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Speaker of the House Michael Madigan's pension plan calls for, among other things, higher contributions by employees and limits on how much in pension benefits retirees may collect.

Associated Press

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Senate President John Cullerton has collaborated with unions on an pension plan, but the details have not been released publicly.

Associated Press

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After years of trying, lawmakers return to Springfield today with something they haven't had before: two potential options for finally addressing Illinois' multibillion-dollar pension problem. Lawmakers must weigh each proposal, including how much money it could save the state and the likelihood it could survive an inevitable court challenge. Here's a look at the proposals.
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    • Speaker of the House Michael Madigan's pension plan calls for, among other things, higher contributions by employees and limits on how much in pension benefits retirees may collect.
    • Senate President John Cullerton has collaborated with unions on an pension plan, but the details have not been released publicly.
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