Jan. 28 (Bloomberg) — Illinois' plan for fixing its $100 billion public pension shortfall is unconstitutional, a labor coalition said, suing to upend legislation addressing the nation's worst state retirement-plan deficit.
The unions, which include the biggest organizations representing state workers, called legislation signed into law last month by Democratic Governor Pat Quinn to reduce the shortfall "theft," according to a statement. The suit was filed today in state court in Illinois' capital, Springfield.
"Teachers, nurses, emergency responders, and other workers and retirees will not stand by while politicians try to take away their life savings illegally," state AFL-CIO President Michael Carrigan said today in a statement announcing the lawsuit.
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