Pension Talks Will Continue In Springfield

SPRINGFIELD, Ill. (AP) – Illinois lawmakers who failed to win reform for the state’s $96 billion pension deficit last night before the end of the lame-duck General Assembly’s session say they’ll start anew today.

Gov. Pat Quinn says bond houses are likely to downgrade the state’s credit rating as early as today – the day a new Legislature is sworn in. Quinn hoped the House would OK a bill reducing the state’s financial burden through greater employee contributions and less-generous benefits. It didn’t even get a vote.

Rep. Elaine Nekritz  a Northbrook Democrat – says she will start over with a bill similar to the failed one. Senate President John Cullerton will do the same with his plan.