Clarification on what passed the Senate today: A different SB1.
The IEA says that what I wrote in the previous blog post is not what happened today.
Here is the IEA statement.
Here is the IEA statement.
Sen. President John Cullerton put a bill in front of the Senate today — twice — that has a direct effect on active Tier 1 TRS employees who have not yet submitted their letters of retirement.
IEA is OPPOSED to the bill.
The bill, known as SB1, forces current Tier 1 employees to choose to freeze their pensionable salaries as they are today in exchange for keeping a 3 percent compounded COLA in retirement and access to health care.
Or, active Tier 1 employees can continue to count salary increases toward their