Pension Crisis

Illinois Awaits Fallout After Pension Reform Fails

The state's credit rating and finances are on the line


Things were mostly quiet here a week after lawmakers failed to reach an agreement on comprehensive pension reform during a special legislative session.

State Treasurer Dan Rutherford sounded the alarm on Illinois' financial crisis Friday, after a Moody's report said lawmakers' inaction on pension reform continues to be an issue for the state's credit rating.