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Illinois to Hire Actuary to Monitor Pensions
By AP
CHICAGO, IL - Illinois will hire a state actuary to report on pension systems.

Gov. Pat Quinn signed legislation Monday requiring an actuary who will monitor the state's five pension systems. It's effective immediately.

The actuary will report to the auditor general.

Democratic state Rep. Barbara Flynn Currie says it's like having a second set of eyes to look over figures already provided by the systems.

Lawmakers failed to pass bigger reforms that address closing an $83 billion funding gap. But top leaders are trying to work out a compromise.

Top Senate leaders and the House Republican leader want to adopt a widely-supported proposal and continue negotiations. But Quinn and House Speaker Michael Madigan want a comprehensive plan that includes transferring pension costs to local schools.

 


Published 08:57 PM, Monday Jun. 18, 2012
Updated 05:42 AM, Tuesday Jun. 19, 2012

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