Progress on $96B pension crisis?
SPRINGFIELD – The prospects for solving Illinois’ worst-in-the-nation pension crisis may have grown brighter Friday when powerful House Speaker Michael Madigan said he was open to deferring a contentious teacher retirement issue that has deadlocked lawmakers for almost a year.
Madigan’s shift was announced by Gov. Pat Quinn, who is pushing to solve the $96 billion pension problem during a lame-duck legislative session that ends next week. The governor characterized the news as a breakthrough.
But many other pension issues remain unsettled. And whether Madigan’s decision, which was confirmed by his spokesman, will lead to a true path through the impasse was far from certain.
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