CHICAGO (Reuters) - A fix for Illinois' public pension crisis remained elusive on Saturday after a meeting between Democratic Governor Pat Quinn and legislative leaders failed to produce a deal.
State House of Representatives Speaker Michael Madigan, a Democrat, said that it was still possible to reach a deal in time to be voted on early next week by the Legislature.
"There's no resolution today. We're going to continue to work throughout the weekend and right through Tuesday of next week to try and move legislation that will solve this funding problem of Illinois pension systems," Madigan told reporters following the meeting.
The House has scheduled a Sunday-through-Tuesday lame-duck session ahead of the start of a new legislative session on Wednesday. Quinn has been pushing the Democratic-controlled Legislature to pass pension reforms before the new session begins.
Illinois' finances are buckling under the weight of a huge $96 billion unfunded pension liability that is rapidly siphoning off money needed for essential state services such as healthcare and public safety.
No deal on Illinois pension fix, talks to continue - Read Full Story at US- Reuters
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