Governor Quinn Calls Special Session on Pension Reform

Springfield, IL–(ENEWSPF)–July 30, 2012.

WHEREAS, on January 10, 2011, I took the Constitutional oath of office to become Governor of the State of Illinois, solemnly swearing to uphold both the Illinois Constitution and the Constitution of the United States, and promising to “faithfully discharge the duties of the office of Governor to the best of my abilities”; and

WHEREAS, I am committed to fulfilling my oath of office to serve the people of the State of Illinois by ensuring that government operates responsibly, and restoring fiscal stability to the State; and

WHEREAS, the State is currently facing an unprecedented pension crisis that, unchecked, compromises the State’s credit rating and threatens the continued delivery of vital programs and services including education, public safety and human services; and

WHEREAS, the current unfunded pension liability of more than $83 billion is unsustainable and costs taxpayers millions of dollars every day it goes unaddressed; and

WHEREAS, the State’s fiscal year 2013 budget is $33.7 billion, approximately 15 percent of which will go toward pensions alone; and

WHEREAS, on April 20, 2012, I proposed a Public Pension Stabilization Plan that would have eliminated the unfunded liability to secure 100 percent actuarial funding of the pensions systems by 2042; and

WHEREAS, I have continued work with the leaders of all four legislative caucuses to introduce legislation that would eliminate the State’s unfunded pension liability; stabilize and strengthen the pension systems and ensure that the public employees who have faithfully contributed to the system receive benefits; and

WHEREAS, it is in the best interest of Illinois taxpayers that measures to strengthen and reform the State’s pension systems be adopted and implemented without further delay; and

WHEREAS, Article IV, Section 5(b) of the Illinois Constitution empowers the Governor, as Chief Executive, to convene special session of the General Assembly;

THEREFORE, pursuant to Article IV, Section 5(b) of the Illinois Constitution of 1970, I, Governor Pat Quinn, hereby call and convene the 97th General Assembly in a special session to commence on August 17, 2012, at 1:00 p.m., for the purpose of considering any legislation, new or pending, which addresses pension reform.

Source: illinois.gov