Government

Quinn: Pension plan 'meets the standard'

FILE - In this Oct. 24, 2013, file photo, Illinois Gov. Pat Quinn responds to a question 
about the ongoing legislative issues in Springfield, Ill.,  after a visit to a Wheeling, Ill., 
high school. (AP Photo/Charles Rex Arbogast, File)
FILE - In this Oct. 24, 2013, file photo, Illinois Gov. Pat Quinn responds to a question about the ongoing legislative issues in Springfield, Ill., after a visit to a Wheeling, Ill., high school. (AP Photo/Charles Rex Arbogast, File)

SPRINGFIELD, Ill. (AP) — Gov. Pat Quinn says the pension agreement legislative leaders have reached meets the goal he set of eliminating long-term retirement-system debt.

House and Senate leaders emerged from a meeting Wednesday to announce a tentative agreement they plan to bring to floor votes next week. House Speaker Michael Madigan says it would save $160 billion over 30 years for pension accounts that are $100 billion in debt.

Quinn assigned the long-elusive pension-reform task to a conference committee of lawmakers in June. The governor said he wanted a proposal that eliminated the debt and stabilized the systems.

He said Wednesday: "This plan meets that standard."

The Democrat says he will be working with leaders and rank-and-file legislators during the coming days to "get this job done for the people of Illinois."

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