State Rep. Stephanie Kifowit, D-Oswego, issued the following statement Tuesday after the General Assembly approved a landmark conference report aimed at stabilizing the state’s retirement systems, which is estimated to save the state $160 billion over the next 30 years.
“The pension crisis in Illinois has been decades in the making and has forced state government to make difficult cuts to vital programs for veterans, seniors, and students. Today, we took action to overhaul our public employee retirement programs and significantly reduce unfunded liability by billions of dollars.
“When I took office last January, I refused to accept a legislative pension and made a commitment to fix one of the poorest funded retirement systems in the nation. This measure will rein in escalating pension costs and provide more financial stability to our state – while giving businesses the certainty they desire to retain and create new jobs.
“The final product was the result of bipartisan negotiations focused on achieving meaningful cost-savings that is equitable to employees and retirees, allowing them to better plan for the future. I take issues impacting the retirement security of all my constituents very seriously, and addressing our pension crisis was necessary to preserve the programs’ future stability and to be responsible stewards of taxpayer dollars.”
For more information, please contact Rep. Kifowit’s constituent service office at 630-585-1308, email Stephanie.Kifowit@att.net, or visit www.ILDistrict84.com.
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