Bumps in the Road: Part 2

So here is Governor Quinn's pension reform plan.  As you can see, the plan calls for an increase of 3% to employee contributions, reduction of the cost of living allowance (COLA), delay of COLA, increase of the retirement age to 67, and shifting the state's current payment responsibility to local school districts, community colleges and public universities over a period of years.  Of course, this is merely a plan at this point and will be subject to political deal-making and subsequent modifications.