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August 17, 2012

Governor Quinn Issues Statement on Critical Need for Pension Reform

SPRINGFIELD – August 17, 2012. Governor Pat Quinn today issued a statement regarding the critical need for comprehensive public pension reform and the General Assembly's inaction.

“Today is a disappointing day for Illinois taxpayers. The only thing standing between our state and pension reform is politics.

"I met with the legislative leaders this morning, and we discussed a number of pension proposals that could be voted on today. I asked them to vote on a proposal that reforms four of the systems and eliminates the unfunded liability, as I have repeatedly advocated.

“Republican leaders said no.

"I asked them if they would vote on a proposal that reforms three of the state's systems. Republican leaders said no.

"I asked them to vote on SB1447, passed by the Senate, to reform two of the systems.

“Republican leaders said no.

“I asked them if they would lead by example, at the very least, and vote to reform the General Assembly pension system.

"Again, Republican leaders said no.

"Illinois has an unfunded public pension liability of $83 billion – the worst in the nation.

“Each day we wait to enact comprehensive pension reform, the problem gets worse. The unfunded liability will grow to more than $92 billion by the end of next fiscal year. Illinois is currently on track to spend more on pensions than education by 2016 and that is unacceptable.

"I will not stop working on pension reform until we get the job done. I have asked the leaders to keep this special session open as we activate the people of Illinois on the critical need for comprehensive pension reform."

RAW TAPEGovernor discusses special session.

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