Among the non “veto” issues that may come up during the “veto” session is pension reform which is, without a doubt, the biggest issue facing Illinois today. Illinois’ pension system is the worst-funded in the nation with only 39 cents in assets for every $1 of obligations. Conservative estimates put the state’s pension debt at $100 billion and rising.
A workable solution has been maddeningly difficult to achieve. After failing for years to negotiate a fix to the problem, Gov. Quinn suggested that a Conference Committee be formed to develop a solution. Despite proposing the idea of the special committee, Quinn has declined to participate in the process or provide any guidance on either defining the scope of the reforms or lining up legislative support for a proposal.
Heading into the fall session, a clear path to reform remained uncertain. However, as with many issues in the legislature, no one is counting out the possibility that a last-minute agreement could be reached.