Illinois House panel approves pension overhaul - Chicago News and Weather | FOX 32 News

A plan to reform the state's pension system has run in to some major opposition down in Springfield, but it cleared its first hurdle in the Illinois Legislature.

The plan being proposed by House Speaker Michael Madigan would cut annual cost-of-living raises for state workers, university staff and downstate teachers, but it would exempt state judges.

There are 1,000 retired judges in the state bringing in an average of $112,000 a year.

Critics said the judges are being left out as part of a deal to rule in favor of the deal if it is challenged in court.

The plan also shifts the burden for the pensions to local school districts and colleges, like what already takes place in Chicago.

Opponents argue schools would be stuck with a huge expense at a time when money is already tight. Those groups claim the plan could destroy the education system in Illinois.

But House Speaker Michael Madigan said the shift would make schools come up with the money they promise to their employees. He said that's the American way.

A downstate Illinois congressman, State Rep. Mike Bost, R-Murphysboro, exploded into an extended rant about pensions Tuesday, in reaction to the schools proposal.

The House pension committee approved the bill 6-3.

The Associated Press contributed to this report.