Gov. Pat Quinn has signed landmark legislation Thursday to reform Illinois' massively-underfunded pension system, though the new law is certain to face threatened lawsuits by labor unions.
The overhaul, approved by the General Assembly this week after years of delay and inaction, cuts benefits for most employees and retirees. It has a June 1 effective date, but could be delayed by the legal challenges.
Quinn, who often signs new laws in celebratory public events, signed the pension bill Thursday afternoon in a private ceremony.
(link below)
http://www.huffingtonpost.com/2013/12/05/illinois-pension-law-sign_n_4393614.html
Thursday, December 5, 2013
ILLINOIS PENSION LAW SIGNED
Gov. Pat Quinn has signed landmark legislation Thursday to reform Illinois' massively-underfunded pension system, though the new law is certain to face threatened lawsuits by labor unions.
The overhaul, approved by the General Assembly this week after years of delay and inaction, cuts benefits for most employees and retirees. It has a June 1 effective date, but could be delayed by the legal challenges.
Quinn, who often signs new laws in celebratory public events, signed the pension bill Thursday afternoon in a private ceremony.
(link below)
http://www.huffingtonpost.com/2013/12/05/illinois-pension-law-sign_n_4393614.html
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment