Illinois pension problem punted to incoming General Assembly
(MCT) — State lawmakers on Tuesday bequeathed the government worker pension problem to the next General Assembly, rejecting Gov. Pat Quinn's roundly criticized "Hail Mary" plan to ask a committee to fix the worst-in-the-nation retirement system.
The failure of the Democratic governor and legislators to start reducing a $96.8 billion pension debt threatens to divert more and more money away from education and social services toward retirement benefits. Leaders also braced for a possible downgrade of Illinois' credit rating, which could make it more expensive for the state to borrow money to keep government afloat.
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