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Thu November 7, 2013
IL Legislature Set To Fix Pension
Illinois House Speaker Michael Madigan says he's prepared to pass a "meaningful" pension reform bill, and he hopes it will happen before the end of the year.
The Democrat says legislative leaders are waiting for actuaries to crunch numbers on some proposals they're considering.
The House Personnel and Pensions Committee yesterday approved a measure that lawmakers could amend with a pension deal.
The procedural move sets the General Assembly up to more quickly approve any pension legislation.
Currently Illinois has $100 billion in unfunded pension liability.