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Government State

Quinn calls special session on pensions

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.

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