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Illinois must address pension reform

Perhaps a decision to move Illinois public employees into a hybrid 401(k)-style program and gradually remove state funding could offer a solution to Illinois' woes.

By Andy Stonehouse | Updated on June 04, 2012

Among the more contentious state pension battles currently waging across the nation, the challenges faced in Illinois were troublesome enough last week to create a stalemate – one that could further lower the state’s financial ratings.

As Forbes blogger Jeffrey Brown notes, the battles over Illinois’ attempts to neatly package a set of pension reform changes failed to meet the May 31 deadline, meaning legislators will have to return to solve the issue and will need to pass it with a larger majority of votes, as per the state constitution.

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