Story by 89 WLS reporter Bill Cameron
Governor Quinn and legislative leaders will meet Saturday to try to solve the state's pension mess.
House Speaker Mike Madigan has reportedly backed off his demand that suburban and downstate school pension costs be shifted in stages from the state to local school boards.
Gov Quinn is applauding this, "I think we saw in Washington in debate over the fiscal cliff that people, in order to solve a problem, often times have to make reasonable compromises."
And this Madigan compromise may erase opposition by Republicans who thought the cost shift would raise local property taxes.
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SPRINGFIELD, Ill. (AP) - Illinois Gov. Pat Quinn and the Democratic House speaker have agreed to forgo the dicey issue of local schoolteachers' retirement costs in order to approve a fix for the state's $96 billion pension deficit.
Quinn told reporters after a meeting in Wheaton with Republicans that he will meet with legislative leaders Saturday to try to reach a deal.
Steve Brown is spokesman for House Speaker Michael Madigan. He says the Chicago Democrat told Quinn that reform legislation is paramount and lawmakers can figure out the financing later.
A solution to the monstrous underfunding of state employee retirement systems has been snagged because Republicans oppose shifting some costs for teachers' pensions to local school boards.
Brown says the goal is to approve a measure before the current General Assembly ends Wednesday.
Copyright © 2012 Associated Press