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State-sponsored pensions will enroll new hires in hybrid 401(k) plans as part of the new controversial budget deal for Illinois. (Photo: AP)

State-sponsored pensions in Illinois will be allowed to enroll new hires in hybrid 401(k) plans, a provision of that state’s recently passed budget designed to give some relief to the state’s worst funded pension plans.

Nick Thornton

BenefitsPRO

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