• House approves cost-shift plan for higher ed

    by  • May 30, 2013 • News

    (AP) — The House has approved a plan to have Illinois’ public institutions of higher education begin picking up retirement costs. pension

    Lawmakers voted 60-55 Thursday. It heads to the Senate. The proposal would require state universities and community colleges pay a half of 1 percent of payroll costs into the pension system annually. Schools would start paying in fiscal year 2015.

    Illinois currently pays retirement costs for universities and most local school districts.

    Rep. Elaine Nekritz is bill sponsor. She says the shift in cost would not result in tuition increases.

    Opponents argue the proposal will raise tuition and property tax rates. They also call it a risky move because the amount that schools will pay depends on what pension reform lawmakers approve.