Below is the government affairs update from Roberta Parks, President of the Peoria Area Chamber of Commerce, dated 5/31/12.

Update on Pension

So far today, the pension proposal contained in SB 1673 has made it through committee, passing with a 8-1 vote. Amendment 4 to the bill does not include the cost shift to suburban and downstate school districts. However, the cap on end of career raises has been reduced from 6% to 0, meaning that any raise given in the teachers last three years of service will be at the expense of the school district.

This is expected to be a long day in the General Assembly and could very well run late into the night. We will be sure to have a recap of any action that takes place for you in the morning.

If you would like to receive these updates by email, please email Roberta at rparks@chamber.h-p.org and tell her that you would like to be placed on the government affairs email list. For past government affairs updates, click here.