Conference Committee to meet Thursday on pension reform

By WEEK Producer

June 26, 2013 Updated Jun 27, 2013 at 10:38 AM CDT

SPRINGFIELD, Ill. -- The conference committee formed to tackle the state's pension problems will meet for the first time on Thursday.

Senate President John Cullerton from Chicago helped select members of that committee.

It's goal is to resolve the stalemate between House Speaker Michael Madigan and Senate President Cullerton.

Cullerton says he is confident the committee will reach a solution and the legislature could pass that bill next month.

Any new bill that is passed would not take affect until June of 2014.

"It's just that it's a really complicated issue," said Cullerton. "It's not something that you can just simply, obviously we have to struggle with it, because you're taking away billions of dollars from folks in something which they would say is promised to them."

The Senator says the futures of 718,000 Illinoisans are affected by pension benefits.

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