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Article updated: 2/27/2013 7:11 PM

Pension bill would reduce benefits, create 401(k) for new teachers

401(k) part of Cross and Nekritz’s proposal

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State Rep. Elaine Nekritz, a Northbrook Democrat, speaks to reporters on pension legislation during a news conference Wednesday outside the House chambers at the Capitol in Springfield.

Associated Press

State Rep. Elaine Nekritz, a Northbrook Democrat, and House Republican Leader Tom Cross, left, of Oswego have a new plan Wednesday to cut the state's pension costs.

Associated Press

State Rep. Darlene Senger, a Naperville Republican, speaks to reporters on pension legislation Wednesday at the Capitol.

Associated Press

State Sen. Daniel Biss, an Evanston Democrat, speaks to reporters on pension legislation Wednesday in Springfield,

Associated Press

State Sen. Daniel Biss, top left, House Republican Leader Tom Cross, bottom, and state Rep. Elaine Nekritz proposed a new plan to cut the state's pension costs.

Associated Press file photo

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Illinois House Republican Leader Tom Cross, Democratic Rep. Elaine Nekritz of Northbrook and a handful of suburban lawmakers pitched a new plan Wednesday to cut the state's pension costs. Specific pension cuts will be the subject of test votes today in the Illinois House.
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    • State Rep. Elaine Nekritz, a Northbrook Democrat, speaks to reporters on pension legislation during a news conference Wednesday outside the House chambers at the Capitol in Springfield.
    •  State Rep. Elaine Nekritz, a Northbrook Democrat, and House Republican Leader Tom Cross, left, of Oswego have a new plan Wednesday to cut the state’s pension costs.
    •  State Rep. Darlene Senger, a Naperville Republican, speaks to reporters on pension legislation Wednesday at the Capitol.
    •  State Sen. Daniel Biss, an Evanston Democrat, speaks to reporters on pension legislation Wednesday in Springfield,
    •  State Sen. Daniel Biss, top left, House Republican Leader Tom Cross, bottom, and state Rep. Elaine Nekritz proposed a new plan to cut the state’s pension costs.
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