Pension Deadline



A bipartisan panel finished a third meeting about the state's $97 billion pension crisis as another deadline set by Gov. Pat Quinn is set to lapse without a solution.
 
The group has now asked for reports of the cost-savings of a university-backed retirement funding proposal after meeting Monday in Springfield. Quinn gave the committee a Tuesday deadline to achieve pension reform.
 
Lawmakers moved to form the committee after a compromise couldn't be reached last month. Members of the committee say there will be nothing to vote on for Tuesday's deadline.
 
Quinn didn't attend Monday's hearing. The governor says committee members know where he stands and that his budget office will speak on his behalf.
 
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.

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

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