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Vote on Illinois Pension System Could Come Today

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Illinois has the country's worst funded pension system. But ABC News reports lawmakers are hoping to change that today.
The state has been grappling with a 100 billion dollar pension crisis. At one point the governor withheld lawmakers' paychecks until they reached a deal. However that move was deemed unconstitutional. The latest agreement, reached by state leadership calls for a raising of the retirement age, adding a 401(k)-style option, reducing employee contributions, and changing the cost of living increases. Labor unions are calling the deal unconstitutional, and are threatening a lawsuit if it passes. A full vote could come as soon as today.


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