Pensions
4:59 am
Tue July 30, 2013

Brady: Pension Panel Close To Compromise

File photo: Democratic legislators Rep. Elaine Nekritz (D-Northbrook) and Sen. Kwame Raoul (D-Chicago) prepare to begin the General Assembly's conference committee hearing on pensions.
Credit Illinois Public Radio/WUIS

A member of the Illinois General Assembly's special pension committee says the group is waiting for what he hopes will be the final round of budget analysis.

The pension conference committee is trying to find a way to reduce Illinois roughly $100 billion in unfunded future pension liabilities. The group comprises 10 senators and representatives, both Democrats and Republicans.

State Sen. Bill Brady is a Republican from Bloomington. He says there has been a lot of compromise.

"I'm just hopeful that the reform that we end up with will be significant enough and meaningful enough to pass," Brady said.

This remains an open question -- a pension overhaul failed to pass in the spring legislative session because the Democratic leaders of the House and Senate have competing visions for what can be done. And no one is sure whether it'll be enough savings for Gov. Pat Quinn, who has repeatedly refused to say how much money an overhaul must save in order to get his signature.

Brady and other members of the committee say they haven't heard a word from Quinn or his staff since the governor cut the salaries of legislators from the budget.

Illinois Public Radio's Brian Mackey contributed to this report.