(Bloomberg) — Illinois's remedy for the state's worst-in-the-nation $111 billion pension-funding shortfall was disliked by lawmakers who voted for it, the new governor who inherited it and public employee unions who sued to void it.
Despite that, Attorney General Lisa Madigan on Wednesday was scheduled ask the state's Supreme Court to resurrect it.
The 2013 measure to cut cost-of-living increases and boost the retirement age was struck down last year by an Illinois judge who found it violated the state constitution's ban on reducing public worker retirement benefits. The dispute is being watched around the country as state and local governments faced total pension shortfalls of more than $1 trillion in 2013.
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