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Thu December 5, 2013
IL Pension Bill Ready To Be Signed
A bill aimed at fixing Illinois' hundred billion pension crisis is before Governor Pat Quinn.
A spokeswoman for Senate President John Cullerton said Wednesday that the bill had been sent to Quinn.
The bill that is estimated to save the state $160 billion over the next 30 years.The plan reduces benefits for current and retired public employees.
Among other things, it also raises the retirement age on a sliding scale.
Quinn has said he will sign the bill "promptly." Once signed, the law would take effect in June. However, unions say the bill is unconstitutional have vowed to sue.