House, Senate Override Gov. Rauner's Veto Of Chicago Pension Bill

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SPRINGFIELD, Ill. (AP) -- Chicago can save $1 billion on-pension contributions over the next five years under a law the General Assembly approved Monday.

The House followed the Senate's lead and voted to override Republican Gov. Bruce Rauner's veto of the plan. It allows Chicago to reduce annual deposits to police and fire retirement accounts through 2020.

Rauner says the plan will cost an extra $18.6 billion over the next 40 years. Without relief, Chicago Mayor Rahm Emanuel said the city would have to impose a $300 million property-tax increase.

In the House, some Republicans joined majority Democrats in the 72-43 vote. They say the pension mess isn't Emanuel's fault and he has already raised taxes and taken other tough fiscal-control measures.