Quinn Sets Deadline For Pension Fix
Posted on February 22, 2012by WUIS – Your Source for News
Gov. Pat Quinn says Illinois must act now on fixing government pension systems, but he isn’t proposing a solution.
In his budget address, the Democratic governor is leaving that to a special panel. He says it must come up with a plan by April 17.
Quinn says in the prepared text of Wednesday’s speech that he considers every possible solution to be on the table. Government pension systems in Illinois are about $83 billion short of having the money they’ll ultimately need for paying pensions. State government must contribute more and more money each year, leaving little to spend on other important needs.(AP)
Governor Pat Quinn will deliver his Fiscal Year 2013 budget address at 12:00 noon on Wednesday. It is expected to be an austere budget with serious fiscal consequences on state operations and services.
You may also access the General Assembly’s live web feed at http://www.ilga.gov/house/audvid.asp.