Pension Crisis: IL Senate Committee Formed

The Illinois Senate has taken action to create a committee to deal with the state's $97 billion pension crisis.
 
The Senate approved a motion 45-11 Wednesday that will allow the creation of the bipartisan conference committee. The House now must take similar action.
 
Governor Pat Quinn requested the committee as a way to break a gridlock between the House and Senate on how to solve the problem.
 
Senate President John Cullerton says there's no guarantee it will work but says it's "a very good step toward reaching a compromise."
 
Cullerton and House Speaker Michael Madigan each will get three appointees to the 10-member committee. House Republican Leader Tom Cross and Senate Minority Leader Christine Radogno (rah-DOH'-nyoh) each would get two.
 
Illinois' unfunded pension liability is the worst in the nation.