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Quinn Plans to Sign Pension Bill

After the pension reform plan passed both chambers, it now heads to Gov. Pat Quinn's desk.

The governor held a press conference in his Capitol office this evening, praising the work of lawmakers in reaching this compromise. He noted today is the state's birthday, and said the plan is a gift to taxpayers. He added that he is looking forward to signing the bill once it reaches his desk.

"I look forward to signing this pension reform," Quinn said. "I respect the retirement security of all our public servants, and I think it's important that we understand that action of the general assembly today, in a bipartisan way, will make our state stronger, and will make the people stronger."

Quinn wouldn't stay whether the savings in the plan would negate the need to extend the state's income tax increase. He said the savings would immediately be taken into account in the budget process.

Once signed, the measure will most certainly face multiple lawsuits, which will seek to determine whether it does violate the constitutional provision that says benefits can't be reduced. It's possible a judge will block implementation of the law until that matter is settled.