CHICAGO (AP) — Illinois Gov. Pat Quinn called the outline of a pension overhaul proposal floated by a bipartisan panel "positive" and "progress," but he shied away from saying whether he'd fully back it.
The so-called conference committee — a 10-member panel formed in June to come up with a solution to Illinois' nearly $100 billion crisis — is considering a framework that would, among other things, end automatic 3 percent cost-of-living increases for retirees. Increases would instead be linked to the rate of inflation.
"It appears … that some progress is being made," Quinn told reporters after an unrelated Chicago event. "We still have to get to the finish line but I think the concepts … are very positive indeed."
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