Illinois will have to wait a little longer for a solution to the state’s pension funding problems. Gov. Pat Quinn’s pension working group missed Tuesday’s deadline for delivering its report. Brian Mackey has more:
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Quinn says his pension group will issue its report soon.
QUINN: “You should not worry about holding your breath too long because it’ll be very shortly.”
Led by Quinn’s budget director, the group has members from each of the four legislative caucuses. Rep. Elaine Nekritz, D-Northbrook, represents House Democrats. She says she thinks there will be an announcement this week, but was reluctant to offer details.
NEKRITZ: “I don’t think I’m at liberty to say the specifics. But there are — I think it’s the kind of thing that you would expect. There are some impacts to benefits for current employees, making sure that the state does what it says it’s going to do.”
Nekritz says the group is also weighing a proposal to shift the cost of teacher and university pensions away from state government and onto school districts and universities.
The state’s pension systems have been chronically underfunded, and it’s weighing down the budget.
The governor has a separate group of legislators looking at a different drag on the budget: Medicaid spending. Quinn has called for massive cuts, and is expected to present THAT plan soon as well.
— Brian Mackey