State pension reform back to square one
An 11th-hour attempt at a pension reform bill in the last days of a lame-duck General Assembly became 12th-hour desperation by Gov. Pat Quinn, and then became nothing.
With a bill stalled to rein in the state’s $96 billion unfunded pension liability, Quinn and the bill’s author pitched a plan Tuesday afternoon to put the political hot potato of pension reform into the hands of an eight-member commission whose recommendations would become law unless both the House and Senate objected.
But that proposal shared the same fate as the previous bill – both passed the House Personnel and Pensions Committee, but never came to a vote in the full House. With the swearing-in of the new General Assembly at noon today, any attempt at pension reform will have to start over.
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