Illinois Governor Quinn calls special session June 19 on pensions

Reuters News
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Posted: Jun 06, 2013 2:33 PM

(Reuters) - Responding to a second major downgrade of Illinois' credit rating, Governor Patrick Quinn called for a special legislative session June 19 aimed at addressing the state's $100 billion pension underfunding.

Moody's Investor Service and Fitch Ratings both have downgraded Illinois' general obligation debt since the state legislature on May 31 adjourned without addressing pension reform. Quinn on Tuesday called a meeting of legislative leaders to seek a compromise solution, but House Speaker Michael Madigan did not attend.

(Reporting by David Greising; Editing by Vicki Allen)