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Illinois Legislators Forge Ahead on Public Pension Liability
National Tax-Deferred Savings Association [NTSA] May 26, 2015
"SB0843 includes provisions that would make ... changes to the Cook County pension system [including] imposing a cap on salary for pension purposes; terminating the use of higher salaries earned in other retirement systems under the Retirement Systems Reciprocal Act; incrementally decreasing 'highest average annual salary' incrementally increasing the required retirement age ... change funding, including the tax rate limitation ... [and] requiring additional employee contributions."
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