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Quinn signs pension overhaul into law

December 05, 2013

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.

Source: http://www.dailyherald.com/article/20131205/news/712059784/
 
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