News

Quinn Unfazed by Pension Report

Quinn Unfazed by Pension Report

Photo: Newsradio WTAX

Gov. Pat Quinn isn’t too concerned about a report that says the pension reform law won’t save as much as originally promised.

An analysis from the state’s Commission on Government Forecasting and Accountability says Illinois will save $137 billion because of the law, down from the original projection of $160 billion. Gov. Pat Quinn says the law will still accomplish its goals.

“We’re gonna erase the liability in 30 years and that’s the bottom line,” Quinn said. “You know, matter of fact, the returns of the pension funds in the last year or so have actually been very, very good.”

Those returns are why the savings estimate has been lowered, as it reduced the taxpayer obligation to the pension systems. The report itself says trying to compare the current numbers and the original estimate is “a tenuous exercise.”

Recent Headlines

in Entertainment

Today in entertainment history: April 28

Fresh
bonjovi

A look back on the Hollywood headlines that have made history.

in Entertainment

Chrissy Teigen is done airbrushing

chrissyteigen

The model doesn't use technology to cover up her blemishes in photos she posts online because she wants young girls to realize that even classic beauties are not perfect.

in Entertainment

Sandra Bullock’s son has no idea his mom is a superstar

sandra

Five-year-old Louis doesn't know his mom is an international movie star.