Banking & Savings

Judge rules Illinois pension law unconstitutional

(AP) — An Illinois judge ruled Friday that a law intended to fix the nation’s worst state employee pension crisis violates the state constitution, deciding in favor of state employees and retirees who sued to block the landmark overhaul. "We’re confident the Illinois Supreme Court will uphold this urgently needed law that squarely addresses the most pressing fiscal crisis of our time," Quinn spokesman Grant Klinzman said in a statement.

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