We Are One Illinois Supports HB 3162 and SB 2404!

Call your lawmakers and urge their support of these two fair, constitutional bills!

The We Are One Illinois union coalition is proud to announce its support for House Bill 3162 and Senate Bill 2404, identical bills that contain essential pieces of the coalition’s framework plan. Unlike many other proposals, HB 3162 and SB 2404 are fair and constitutional. The bills have three parts:

1. An Ironclad Funding Guarantee. For decades, Illinois politicians shorted payments to the pension systems, even as public workers faithfully and consistently paid their fair share. To ensure that today’s politicians cannot repeat the mistakes of their predecessors, HB 3162 and SB 2404 contain an ironclad funding guarantee. If the state fails to make its full payment, the retirement systems – or their members – can sue to ensure proper payment.

2. The Pension Stabilization Fund. HB 3162 and SB 2404 dedicate revenue to pay down the state’s pension debt. In short, revenue currently being used to pay off the state’s pension obligation bonds would be committed to the pension systems after the bonds are paid off.

3. Shared Sacrifice. Public employees are not to blame for Illinois’ pension problem, but they are willing to be part of the solution. With an ironclad funding guarantee to ensure pension shortfalls will never happen again, Tier 1 employees would be prepared to contribute an additional 2% of salary, phased in over the next two years, for their retirement.

HB 3162 and SB 2404 feature bipartisan support by a diverse set of lawmakers. Our coalition is working to add more co-sponsors to both bills. We also continue to work on additional framework solutions, such as closing corporate tax loopholes to generate $2 billion in new revenue. We will keep you updated on the bills' progress during the legislative session.