Catherwood LibraryILR School

It?s no news that Illinois has the worst-in-the-nation pension system, but a law recently approved by both state chambers would eliminate the $100 billion unfunded pension liability by cutting benefits of past, present, and future employees. The governor, Pat Quinn, has made it clear that he will sign the bill into law as soon as possible. The public employee unions are claiming that the law is unconstitutional because the state constitution states that pension benefits may not be retroactively cut. The coalition of unions, called We Are One Illinois, has already stated that if the governor signs the bill, they will take legal action to protect the Illinois constitution and their membership. Pensions are currently about 20% of the state?s annual budget and the issue is projected to continue to grow.