Illinois business leaders didn't back Governor Pat Quinn when he was running for office but now they're touting his proposals to overhaul the state's pension system.
Doug Whitley is President of the Illinois Chamber of Commerce. He announced Wednesday that his group would support the governor's plan: "The Illinois Chamber is stepping up to support the Governor's blueprint for pension reforms. We think the Governor's made a bold statement that is necessary because the public employee pension are on the verge of insolvency. We know that the rising cost of public employee pensions is now 15 percent of the budget."
The cost of pension liabilities continue to rise, currently exceeding $85-Billion. Quinn wants to increase the retirement age to 67 and have workers pay more for their pensions. As he gains support from business groups, Quinn has been criticized by a group that once supported him -- labor unions. Labor officials say workers have a right to keep the retirement plans they were promised.
