Illinois

Illinois Legislators Looking for Pension Reform Plan

The state has $100 billion in unfunded pension liabilities

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(Reuters)—Illinois lawmakers begin a two-month push on Monday to enact major pension reform, under pressure from taxpayers, workers, businessgroups and bond investors to fix the worst-funded state pension system in the United States.

The key objective: To put together a package of reform measures that are capable of addressing a nearly $100 billion unfunded pension liability, while still standing up to anticipated court challenges.

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