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Pension Deal Finally Done

Posted by wlpo on December 3, 2013

Gov. Pat Quinn says the people of Illinois have won after lawmakers approved a major overhaul aimed at solving the state’s $100 billion pension crisis.

Quinn calls it “landmark legislation” that will ensure retirement security.  The governor has made pension reform a top priority for two years, but efforts had been unsuccessfully including previous special sessions and his social media campaign. More recently, Quinn had refused to take a paycheck until lawmakers came up with a comprehensive solution.

The Illinois House and Senate approved a bill that’s estimated to save roughly $160 billion over the next three decades.  However, unions were opposed to the measure, calling it unfair and questioning its legality.

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