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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.”

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