Madigan Talks About Pension Challenge

May 30, 2012

Illinois lawmakers continue to wrestle with the state's soaring pension costs. 

The General Assembly is set to adjourn May 31, yet at this time it's still unclear which -- if any -- of the various proposals to reduce pension costs will pass. 

Unions are fighting efforts that would reduce benefits for state workers, university employees, and public school teachers.

But many lawmakers, including House Speaker Michael Madigan, say an overhaul is necessary.  They point to Illinois' $83 billion unfunded pension liability that continues to grow. 

Madigan told Public Radio's Amanda Vinicky he regrets his role in helping pass an early retirement package a decade ago that wound up adding to the state's pension expenses. You can listen to the interview by clicking on the audio button.

Thanks to Illinois Public Radio