Quinn to lead talks on pension crisis Saturday

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Associated Press

Posted on January 5, 2013 at 10:32 AM

CHICAGO (AP) -- Gov. Pat Quinn is to meet with legislative leaders Saturday to try to work out a deal on the state's pension crisis that could be voted on in the General Assembly next week.

The meeting comes a day after Quinn announced that a major sticking point would be shelved for now in hopes of getting some kind of deal done before the lame-duck legislative session ends on Wednesday.

House Speaker Michael Madigan, a fellow Democrat, has agreed to drop for now a proposal to shift pension costs for public school teachers from the state to local districts.

That is already happening in Chicago, but Republicans worried that forcing the rest of Illinois to follow suit would result in higher property taxes.

Illinois' unfunded pension liability has hit $96 billion.

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