Illinois House Speaker Michael Madigan, D-Chicago, has introduced legislation seeking a constitutional amendment to require a three-fifths supermajority vote of the General Assembly for any future pension benefit increases.

Only a simple majority vote is currently required. The measure calls for the question to be placed on the November ballot.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.