Gov. Rauner vetoes overhaul of Chicago city pension system

SPRINGFIELD, Ill. (AP) — Illinois Gov. Bruce Rauner vetoed legislation Friday that Chicago officials hoped would bolster the city's sagging pension systems.

The Republican criticized the plan as too limited and argued the state should tackle the state's onerous pension debt while shoring up municipal retirement accounts.

"It's like trying to fix a drought with a drop of rain," Rauner said in his veto message. "We see pension funding challenges throughout the state. 'One-off,' short-sighted approaches won't really fix the problem."

Rauner forecast the action in January, when he announced disapproval of the plan after it sailed out of the state Senate unanimously.

Read more: http://www.qconline.com/news/illinois/gov-rauner-vetoes-overhaul-of-chicago-city-pension-system/article_be5e62ea-1114-11e7-88ad-93bfc0c457f6.html