An Illinois legislative committee working to forge a compromise on the state’s $97 billion pension crisis is holding its second public hearing. The 10-member bipartisan committee is scheduled to meet today in Chicago. Members will hear testimony from civic organizations and others on how to address the pension debt.
Illinois has the nation's worst state pension shortfall, but lawmakers have repeatedly failed to solve the problem. They voted last month to form the committee after a special legislative session made clear the House and Senate were divided between two approaches. One would cut retirement benefits across the board. The other would give workers and retirees a choice in benefits. A third public hearing is scheduled for Monday in Springfield. Gov. Pat Quinn has asked the committee to report back by July 9.