Illinois Governor Seeks Fast Vote on State’s Long-Troubled Pension Systems (NY Times)

January 2, 2013 – As Illinois lawmakers head back to work this week, Gov. Pat Quinn is seeking to use the practical advantages of a lame-duck legislative calendar to fix the state’s pension systems — the most underfinanced in the nation — in a matter of days. Over the years, leaders here have fretted over the shortfall even as they watched it grow and grow, now reaching, by some estimates, $96 billion. Mr. Quinn, a Democrat, has come to describe the situation as the state’s “rendezvous with reality” and Illinois’s own “fiscal cliff.”

Link to Full Article: http://www.nytimes.com/2013/01/02/us/illinois-governor-seeks-fast-vote-on-states-long-troubled-pension-systems.html

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