Schakowsky opposes pension deal

U.S. Rep. Jan Schakowsky, D-Ill., is joining a growing chorus of lawmakers and elected officials who oppose Illinois’ proposed pension deal that is to be discussed in Springfield on Tuesday.

Earlier today, U.S. Sen. Mark Kirk, R-Ill., also opposed the proposal that aims to ultimately save a reported $160 billion in pension costs. Dan Rutherford, Judy Baar Topinka and Sheila Simon also announced their opposition.

None of them are to cast votes on the matter — but stand to retain a relationship with labor by opposing the proposed bill.

“Members of the Illinois General Assembly have been presented with an unfair pension proposal that places an enormous financial burden on those who did everything right – the public employees who served our state and faithfully made their pension contributions,” Schakowsky said in a statement. “Yet, this proposal would subject them to deep cuts on their cost-of-living adjustments, which will grow over time and substantially reduce their pensions. For the many teachers and other public employees who don’t collect Social Security, the size of the cuts will take away the retirement security they have earned over a lifetime of work.”