Review: Pension bill savings were overstated

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Last month’s agreement on a state pension reform bill won’t save Illinois as much money as its supporters promised.

Accountants at the pension systems took another look at the numbers and concluded that Governor Quinn and state legislative leaders overstated the savings by $15 billion, or about 10 percent.

Critics say state officials will have to revisit the pension cuts and make new ones; but supporters say the new pension rules are already saving the state money.

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