Overcast
24°FOvercastFull Forecast

Quinn calls special session on pensions

Published: Thursday, June 6, 2013 1:10 p.m. CST

CHICAGO – Gov. Pat Quinn has called a special session for lawmakers later this month to focus on finding a solution to the nearly $100 billion pension crisis.

The Chicago Democrat made the announcement Thursday, the same day Moody's Investors Service lowered Illinois' credit rating. The special session is June 19.

The move follows a pension stalemate in Springfield. Lawmakers adjourned last week without a solution.

The House and Senate were at odds over an approach. The Senate rejected a bill sponsored by House Speaker Michael Madigan that cuts benefits across-the-board. Meanwhile, Senate President John Cullerton sponsored a plan that gives employees and retirees a choice in benefits. It was never called for a House floor vote.

Quinn backs Madigan's plan.

Fitch Ratings downgraded Illinois' credit Monday.

Get breaking and town-specific news sent to your phone. Sign up for text alerts from the Daily Chronicle.

Watch Now

Player embeded on all DDC instances for analytics purposes.

Dec 16 Rod Carey press conference

More videos »

Reader Poll

Where did you get your last pet?
Animal shelter
A breeder
A pet store
Don't have pets