CHICAGO – The sponsors of a new proposal to fix Illinois' pension crisis say the plan would save the state $2 billion and reduce its unfunded liability by $30 billion next year – figures they hope will improve the plan's chances at the state capital.

More than 20 rank-and-file legislators pitched the plan earlier this month, saying they were frustrated by finger-pointing and a lack of progress and on an issue that could lead the state into "financial oblivion" if it isn't solved.

Illinois has the nation's most underfunded public employee pensions, with a shortfall of $95 billion.