HEADLINES : Illinois
Quinn: 'I was put on earth' to fix state pension mess
Gov. Pat Quinn today unveiled his plan to cut public pension costs, calling on government workers to pay more, the retirement age to be raised and cost-of-living adjustments tightened.
The Democratic governor said the pension shortfall in Illinois is "one of the most difficult problems that Illinois government has faced for more than three decades."
"I didn't create the problem," Quinn said at a Chicago news conference. "But I'm here to solve it. I know that I was put on earth to get this done."
To help shore up the vastly underfunded system, Quinn called for a 3 percent increase in employee contributions and reducing the rate of cost-of-living increases. The governor also wants to raise the retirement age to 67.
Quinn estimated that if enacted, the changes would save $65 billion to $85 billion by 2045.