Recalled Legislators Unlikely to Fix Illinois Pension Crisis

State has unfunded liabilities of $83 billion.


(Reuters)—Illinois lawmakers, meeting during a special session on Friday in a bid to fix the state's ailing public pension programs, are unlikely to produce an overhaul of the nation's most underfunded state retirement system, lawmakers and lobbyists said.

Governor Patrick Quinn, who called legislators back to the state capital of Springfield, said the state must reform the creaking system, which has unfunded liabilities of $83 billion.

But few lawmakers or lobbyists believe substantive action will be taken during Friday's session, which will consider one small pension bill, and could adjourn a few hours after it convenes.