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Tue July 9, 2013
Illinois lawmakers end third pension meeting
An Illinois bipartisan panel has finished a third meeting about the state's $97 billion pension crisis as another deadline set by Governor Pat Quinn lapses without a solution. The group has now asked for reports of the cost-savings of a university-backed retirement funding proposal after meeting Monday. Quinn gave the committee a deadline of today to achieve pension reform. Lawmakers moved to form the committee after a compromise couldn't be reached last month.
Quinn didn't attend Monday's hearing. He says committee members know where he stands and that his budget office will speak for him. Committee chair Kwame Raoul says it takes time to craft legislation and called for the governor to cast politics aside. Illinois' unfunded pension liability is the worst in the nation.