Illinois lawmakers continue to wrestle with the state’s soaring pension costs. The General Assembly is set to adjourn tomorrow. Yet at this time it’s still unclear which, if any, of the various proposals to reduce pension costs will pass. Unions are fighting efforts that would reduce benefits for state workers, university employees, and public school teachers. But many lawmakers, including House Speaker Michael Madigan, say an overhaul is necessary. They point to Illinois’ 83 billion dollar unfunded pension liability that continues to grow. Madigan told WUIS’ Amanda Vinicky he regrets his role in helping pass an early retirement package a decade ago that wound up adding to the state’s pension expenses and what he wants to do about it now.
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