Illinois dragging its feet on pension problem
CHICAGO – Illinois, a state with a reputation for political wheeling and dealing, backroom handshakes and 11th-hour bargains, is dragging its feet on the one deal needed to solve its biggest crisis in a generation.
Lawmakers will convene again the first week in January in hopes of fixing the nation’s worst case of underfunding state employees’ pensions, a problem approaching $100 billion and mounting by $17 million per day. On the table are solutions that other states adopted as long as five years ago.
California and New York – states that, like Illinois, lean Democratic and have strong state employee unions – already took unpopular, tough-love measures to pass pension reform.
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