Deal would delay reductions in Illinois pensions.
The State Universities Annuitants Association said that its deal with the Illinois Attorney General's office would give more time to higher education employees who had been considering retiring before the new state pension law begins in June to avoid cuts. A Sangamon County judge still must approve the deal.
Lawmakers agreed last year on a pension law to help deal with a $100 billion shortfall in pension obligations.
Officials said the extra time college and university employees would have to weigh their options would be helpful.