Quinn’s pension reform: AP

20 Apr

April 20, 2012 (SPRINGFIELD, Ill.) — Gov. Pat Quinn wants to raise the retirement age for Illinois public employees and require them to contribute more money to their retirement funds.

Those are the key parts of what Quinn calls a “bold plan” to shore up state pension systems. They’re now about $85 billion short of the money they’ll eventually need.

The Democratic governor says the retirement age should be raised to 67 and employee contributions should climb by 3 percent.

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