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Quinn: Pension plan ‘meets the standard’

Posted by wlpo on November 27, 2013

     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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