Sentences with phrase «underfunded public pension system»
CHICAGO, Dec 5 (Reuters)- Illinois Governor Pat Quinn signed into law on Thursday landmark reforms to the state's woefully underfunded public pension system, prompting unions to begin preparing court action to challenge the law.
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Second, the continued operation of the system is likely to expose the soft - underbelly of modern public finance — the underfunded pension plans crying out for reforms that union leaders, along with other public employees, resist.