Illinois Pension Reform: Lawmakers Convening Special Session, Vote Ahead On Pension Funding

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Illinois lawmakers were poised Tuesday to vote on a plan to solve the state’s $100 billion pension crisis — a proposal many are calling the most important vote of their careers and one that could deeply reduce the retirement benefits of hundreds of thousands of workers and retirees.

Gov. Pat Quinn and other supporters on Monday stressed the importance of the vote, saying approving the legislation is a crucial step toward improving Illinois’ disastrous financial situation. Quinn, a Chicago Democrat, planned to travel to the state Capitol in Springfield and said he would meet with as many legislators as possible to try to get them to vote yes.

“I think (this is) the most important fiscal vote that will ever be taken by the General Assembly in my lifetime,” he said Monday at an unrelated event. “We need to erase the liability and move Illinois forward. That’s what I’m committed to and I think everyone who is interested in the future of Illinois, the common good, what’s good for taxpayers should join us in urging a yes vote.”

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