House OKs overhaul of state pension boards

SPRINGFIELD -- The Illinois House has voted to overhaul management of state pension boards after the scandals of the Blagojevich administration.

Under the plan, the directors of several pension boards would be removed. New boards would be chosen, subject to tighter ethics laws.

The board that oversees pensions for Illinois teachers was involved in one of the scandals under former Gov. Rod Blagojevich. A Blagojevich friend conspired with one of his board appointees to demand kickbacks from companies wanting to do business with the pension fund.

House Speaker Michael Madigan said Thursday that anyone involved with managing the retirement systems under Blagojevich must go.