Bipartisan committee holds first pension hearing

Members of a bipartisan panel tasked with coming up with a plan to address Illinois’ pension crisis don’t all agree with Gov. Pat Quinn’s July 9 deadline to report back with a solution.

Democratic Sen. Kwame Raoul says it could take longer than that. He spoke to reporters Thursday before the panel’s first public hearing. He says another hearing will take place next week.

The 10-member panel was formed after a special session this month. Both chambers remain divided and the group has been charged with finding compromise.

Republican Sen. Mat Murphy says July 9 is a reasonable target.

Six Democrats and four Republicans are on the committee.

Illinois has the worst state pension shortfall nationwide, largely due to lawmakers skipping or shorting payments to public-employee retirement funds.