Organized labor and states trying to fix huge budget problems by cutting pension costs.
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The latest battle between organized labor and states trying to fix huge budget problems by cutting pension costs has resurfaced in Illinois, where public union leaders are waging an all-out effort to stop the Democrat-led campaign.
Details of a plan reached last week appear to show state legislative leaders are attempting to solve Illinois’ $100 billion pension crisis in part by changing workers’ retirement age, reducing automatic pension increases and limiting their collective-bargaining privileges.
Union leaders argue the plan to help the under-funded pension plan, which appears to have bipartisan support, seems no different than the one the General Assembly rejected earlier this year.