SPRINGFIELD — State Senator Michael Frerichs (D-Champaign) issued the following statement after voting for Senate Bill 2404, the comprehensive pension reform measure the Senate passed today:
I am proud today to stand in support of legislation done the right way – at the negotiating table with representatives of the hard-working public employees who will be affected.
There is no perfect solution to Illinois' pension crisis. Teachers and state employees held up their end of the bargain even when the state failed to keep its promises. But public workers and retirees understand we need them to share in the sacrifices now required to sustain our retirement systems and core state functions. Today we asked them to make these sacrifices, but in a way that respects both the constitution and these employees' indispensible contributions to the state of Illinois.
I'm excited about the momentum behind this legislation, which proves that meaningful reform can be achieved without bypassing or strong-arming the people who have given their working lives to the public good. I'm confident that our state's fiscal health will improve if this plan becomes law. We stand or fall together; sound finances mean a brighter future for public employees, private sector workers, senior citizens and the next generation.
Details of SB 2404 can be found at the Illinois Senate Democrats' website.