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Illinois Lawmakers Approve Plan for Pension Crisis

The Illinois House and Senate narrowly pass sweeping changes to the state's pension system, a system underfunded by $100 billion.
The Illinois House and Senate narrowly pass sweeping changes to the state's pension system, a system underfunded by $100 billion.

It now heads to Governor Pat Quinn, who says he will sign it.

The law pushes back the retirement age and cuts benefit payouts by reducing or freezing cost of living increases.

Public unions are strongly opposed.
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