The latest proposal requires workers to contribute two percent more towards their pension and pension cost of living raises would be suspended for six years.
After that, only retirees age 67 and older would get COLA increases.
House Minority Leader Tom Cross says after discussing the issue from every angle for two years, now is the time to act.
Cross says they should leave it up to the courts to determine if this plan is constitutional.
It now faces a vote before the full house.