Quinn OKs Pension Reform


Illinois Gov. Pat Quinn approved a state pension system overhaul a day after a 16-count federal indictment against his predecessor that alleges retirement plan corruption.

Quinn signed a law Friday that lawmakers approved just a day earlier. The measure dumps the boards of four pension systems and adopts tougher ethics rules.

Former Gov. Rod Blagojevich and five others were indicted Thursday on charges that included trying to skim money from the Teachers Retirement System.

The law requires firing TRS executive director Jon Bauman. He is not charged with wrongdoing but Quinn says TRS needs a complete overhaul.

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