Retired Teachers Sue State Over Pension Law
By The Associated Press
A group of retired Illinois teachers and administrators have filed a lawsuit seeking to have a new plan to reduce the state's $100 billion pension shortfall declared unconstitutional.
Eight former teachers and administrators filed the lawsuit Friday in Cook County Circuit Court.
The long-anticipated legal challenge comes less than a month after Gov. Pat Quinn signed the measure into law.
The plan is estimated to save the state $160 billion, largely by cutting benefits for employees and retirees.
Opponents say it violates a provision of the Illinois Constitution that says pension benefits may not be diminished.
Quinn and other supporters of the plan believe the Illinois Supreme Court will uphold it. They say that's because the law is necessary to repair the state's finances and ensure retirement funds remain solvent.