News

Quinn Unfazed by Pension Report

Quinn Unfazed by Pension Report

Photo: Newsradio WTAX

Gov. Pat Quinn isn’t too concerned about a report that says the pension reform law won’t save as much as originally promised.

An analysis from the state’s Commission on Government Forecasting and Accountability says Illinois will save $137 billion because of the law, down from the original projection of $160 billion. Gov. Pat Quinn says the law will still accomplish its goals.

“We’re gonna erase the liability in 30 years and that’s the bottom line,” Quinn said. “You know, matter of fact, the returns of the pension funds in the last year or so have actually been very, very good.”

Those returns are why the savings estimate has been lowered, as it reduced the taxpayer obligation to the pension systems. The report itself says trying to compare the current numbers and the original estimate is “a tenuous exercise.”

Recent Headlines

in Local

Motorcycle Accident Kills Man Wednesday on North Side

cycle fatal

Intersection near Lanphier closed for several hours

in Local

Human Remains in Rochester Identified

rochester police

The Sangamon County Coroner's Office has identified the female remains found in Rochester on July 19th.

in Local

Sangamon County Leads State in Tourism Growth

Lincoln's_Tomb

Numbers released by the Illinois Office of Tourism indicates the Springfield area continues to be a big draw for visitors.

in Local

More Money Toward City Pensions? Not So Fast, Say Budgeteers

municipalcenter

Some Springfield aldermen want to take a budget windfall and put it toward police and fire pensions, but city budgeteers are advising against it at the moment.

in Local

Police Arrest 5 in Shooting, Crash at Dirksen & South Grand

accident_southgrand

Police have arrested five people in connection with a shooting turned high speed chase turned crash late Tuesday night.