Pension Committee



A lawmaker committee tasked with finding a solution to Illinois' pension crisis is hearing testimony from business groups, unions and the governor's budget director.
 
The so-called bipartisan conference committee was formed this month during a special session. The group held its first meeting Thursday. More are planned.
 
Democratic state Sen. Kwame Raoul is chair and says the idea is to look at all options. He says he doesn't agree with Gov. Pat Quinn's July 9 deadline and it may take longer.
 
Much of the testimony has been familiar. Illinois has the nation's worst pension problem with almost $100 billion in unfunded liability. It's a problem that strains other spending in the state and any solution won't be easy.
 
Quinn's budget chief Jerry Stermer calls it an emergency.

(Copyright 2013 by The Associated Press. All rights reserved.)

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