It is tough to be an employee of the Illinois state government with constitutionally guaranteed benefits. LOL http://www.chicagotribune.com/news/opinion/editorials/ct-edit-madigan-20130502,0,756643.story
Anyone 45 years or older will still be able to retire as planned under the current rules. Depending on years of service, that could be age 55, followed by a pension that pays 75 percent to 80 percent of final salary (or 85 percent for some General Assembly members, who have, remember, part-time jobs).
Bottom line for current and future pension recipients: You'd still be getting a generous deal — benefits that all of your friends in the private sector will subsidize, but far higher than what they'll receive from Social Security. You're still in a defined benefit retirement plan at a time when governments elsewhere are starting to shift toward defined contribution plans similar to 401(k)s. And of course, you can invest on your own to secure an even more comfortable retirement.