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Illinois legislators yesterday unveiled a plan that has bipartisan support and that aims to...

Illinois legislators yesterday unveiled a plan that has bipartisan support and that aims to solve the state's massive pension crisis. Illinois has an eye-watering $96B in unfunded liabilities, which is threatening the state's A2 rating and hurting its ability to finance its services. The proposals including limiting pensionable salaries and raising retirement ages, although unions have vowed to fight the measures.
Comments (5)
  • Just raise the occupancy tax on Chicago hotel guests to 100%, that ought to make up for the unfunded liabilities.
    7 Jan 2013, 07:02 AM Reply Like
  • Too little, too late. Unions have put the state on the road to bankruptcy.
    7 Jan 2013, 07:28 AM Reply Like
  • Only a union that would try to beat a dead horse to finish a race. Good luck I hope the whole thing explodes in their face. Maybe some rationality could return to excessive municipal salaries, benefits, retirement age, and job performance.
    7 Jan 2013, 08:06 AM Reply Like
  • IL and CA need a fiscal quarantine from the rest of the country ASAP. These union compensation schemes over the last several years have become ludicrous
    7 Jan 2013, 08:14 AM Reply Like
  • Part of the "fix" is to push more of the the pension funding costs off on the local school districts instead of the state. In short, smoke and mirrors.
    7 Jan 2013, 09:21 AM Reply Like
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