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Illinois governor's office warns of crippling pension payment hike

from Reuters

Potential action this week by Illinois' biggest public pension fund could put a big dent in the state's already fragile finances, Governor Bruce Rauner's administration warned. A memo from a top Rauner aide said the Teachers' Retirement System board could decide at its meeting this week to lower the assumed investment return rate, a move that would automatically boost Illinois' annual pension payment. more

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