Quinn adding to pension situation

Published 07/08 2013 09:33PM

Updated 07/09 2013 12:22PM

SPRINGFIELD -- Governor Pat Quinn was invited to testify before a conference committee dealing with pension reform, but he sent a delegate to speak on his behalf instead. Quinn isn't going easy on lawmakers when it comes to pension reform, but he might not be helping the situation either.

His delegate says he wants the group to come up with a plan to erase the unfunded liability and get to 100 percent funding. However, his office didn't offer a specific proposal to combat the nearly $100 billion pension crisis. Instead, his representative pointed out the committee has failed to reach their July 9, 2013 deadline.

"It hurts the work of the committee when the governor as he's personally told me, he wants to work with the committee and then his representatives are publicly saying the committee in essence is not working at a good enough pace," said Sen. Kwame Raoul, (D-Chicago).

Some lawmakers believe this third meeting did little to move the bipartisan committee forward. Others say an analysis of a plan backed by university presidents could offer a solution.

"We don't know how much these ideas save, so we don't know whether or not this is the real solution because if it doesn't save enough money, it doesn't save the pension systems and we need to keep moving for the real solution," said Sen. Matt Murphy, (R-Palatine).

That analysis could take anywhere from a few days to a few weeks to complete. But, that plan is what some say could be the ticket when tied with ideas from previous legislation from the Illinois Senate and House.

"What's new and what's different about the university proposal is that it provides a mechanism for employees to keep pace with inflation. We heard I don't believe that any of the proposals so far actually do that," said Rep. Elaine Nekritz, (D-Buffalo Grove).

In the midst of the $100 billion pension crisis, the liability grows by about $5 million each day.

Copyright 2017 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.