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Progress in Illinois pension reform talks

Lawmakers have been trying for two years to try to fix the pension system, which faces an unfunded liability of $100 billion.

By Dan Berman | Updated on August 21, 2013

Illinois lawmakers, working without pay during a special session, may be creeping closer to in their efforts to strike a deal to reform their state pension system, which is facing the biggest shortfall of any state.

Lawmakers have been trying for two years to try to fix the pension system, which faces an unfunded liability of $100 billion. That represents 57 cents for every dollar needed.

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