Gov. Quinn’s proposal to change Illinois’ public employee pension system met with resistance by state unions, who represent the workers impacted – However —
“Almost all sides, including credit rating agencies like Moody’s that have downgraded the state’s bond rating, acknowledge that pension liability stems from Illinois using its pension fund like a bank account – using money earmarked for pension obligations to instead pay down other debts or fund state programs, and, in doing so, shortchanging public employees.”
Unions Face Tough Battle With Quinn’s Pension Cut Plan | Progress Illinois
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