Tagged: Illinois pensions

Ill. Governor Pat Quinn will present his budget address in Springfield on Wednesday.

The state is reported to have the worst-funded pension system in the country - and has about $97 billion in unfunded obligations.

"Obviously, our pension reform will be part of the address, the need for getting that done right and getting it done now," said Quinn.

Quinn has said the pensions are unsustainable and are taking money away from other key government services.

Reporting from Amanda Vinicky from Illinois Public Radio.

A new session of the Illinois General Assembly begins today, when candidates who won in November's elections take the oath of office.  The outgoing class of legislators left the incoming one with quite a burden.  

Tuesday night, the previous General Assembly adjourned without doing anything to reduce Illinois' $97 billion pension debt, though there were a few last minute tries.

Updated  5:30 p.m. Reporting from Illinois Public Radio's Amanda Vinicky and Brian Mackey used in this report.

The Illinois House has just adjourned the 97th General Assembly permanently, without taking a vote on the pension legislation.

The commission proposed earlier in the day by Gov. Quinn (more below) was not addressed.

Members of the House approved it in committee, but several said they were doing so only as a show of respect for the governor, and had serious reservations about whether the idea was constitutional.