Quinn sets new deadline, forms new committee for pension reform - KMSP-TV

Quinn sets new deadline, forms new committee for pension reform

Posted: Updated:
CHICAGO (FOX 32 News) -

It's a monster gobbling up every other part of state government's budget: Illinois's $100 billion dollars in unfunded public employee pensions. Facing a deadline for action Wednesday, Governor Quinn and the general assembly formed a new committee and set a new deadline.

Unable and unwilling to rescue taxpayers from the crushing burden of that monstrous pension debt, the governor and legislators decided, "Don't just stand there. Let's do something!"

The general assembly's brief special session went pretty much as every other deadline day has for years on comprehensive pension reform. It came. It went. And now there's yet another, new deadline.

"I've set July 9th -- that's a Tuesday -- as a deadline for the general assembly to propose a comprehensive pension reform agreement that can be put on my desk, we can pass into law," Quinn said Wednesday.

To negotiate and write that agreement legislative leaders appointed a bipartisan committee with 5 members each from the House and Senate. One, Northbrook's Rep. Elaine Nekritz, warned immediately that the group would need more time, adding, "I don't think the (governor's) July date is real."

One key reason, the state's powerful public employee unions. They give millions of campaign dollars to both Democrats and Republicans in Springfield. They vow to make no more concessions, insisting it would be unfair to retirees counting on their promised state pension. Many analysts, though, said union concessions so far are too small to solve the pension funding crisis.

The governor's number crunchers said the unfunded pension liability Illinois grows $17 million a day -- that's $86,400 every second of every day.

Follow Us!

Share Your Photos & Video

  • Politics NewsMore>>

  • Mayors' group pushes for pension reform

    Mayors' group pushes for pension reform

    Monday, April 21 2014 12:04 PM EDT2014-04-21 16:04:17 GMT
    money-roll-genericmoney-roll-generic
    More than two dozen Illinois mayors are set to hold a news conference, hoping to encourage state lawmakers to make changes to pension systems for local police and fire departments.
    More than two dozen Illinois mayors are set to hold a news conference, hoping to encourage state lawmakers to make changes to pension systems for local police and fire departments.
  • US Sen. Durbin says he's taking Oberweis seriously

    US Sen. Durbin says he's taking Oberweis seriously

    Sunday, April 20 2014 11:10 AM EDT2014-04-20 15:10:55 GMT
    U.S. Sen. Dick Durbin says he's taking his opponent in the November election more seriously than any challenger since he first was elected to the Senate.
    U.S. Sen. Dick Durbin says he's taking his opponent in the November election more seriously than any challenger since he first was elected to the Senate.
  • Quinn: Tighter controls after Medicaid paid $12M for Illinois dead

    Quinn: Tighter controls after Medicaid paid $12M for Illinois dead

    Saturday, April 19 2014 9:57 PM EDT2014-04-20 01:57:44 GMT
    The state of Illinois is trying to recoup roughly $12 million its Medicaid program paid in medical services for dead recipients.
    The state of Illinois is trying to recoup roughly $12 million its Medicaid program paid in medical services for dead recipients.
Powered by WorldNow

KMSP-TV
11358 Viking Drive
Eden Prairie, MN 55344

Phone: (952) 944-9999
Fax: (952) 942-0455

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices