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updated: 1/15/2014 7:40 AM

UI looking into sweetening pensions for workers

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  • Administrators at the University of Illinois are asking trustees to consider extra pension funding for employees who are losing benefits under new state pension rules.

      Administrators at the University of Illinois are asking trustees to consider extra pension funding for employees who are losing benefits under new state pension rules.

 
Associated Press

Administrators at the University of Illinois are asking trustees to consider extra pension funding for employees who are losing benefits under new state pension rules.

UI chief financial officer Walter Knorr tells The News-Gazette that the school wants to make sure it's attracting and retaining high-quality workers. A Board of Trustees' committee on Monday reviewed a resolution that directs administrators to look into alternatives to the state pension plan for employees.

Knorr says the school's three campuses are creating a task force to explore the issue. He says officials hope to have a proposal for approval by the trustees' board meeting in May.

The UI full Board of Trustees will vote on Monday's resolution next week.

Lawmakers approved legislation in December that addresses Illinois' $100 billion public pension shortfall.

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