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Former Gov. Edgar Weighs In On Pension Mess

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(Duration: 4:01)

Jim Edgar

Former Illinois Gov. Jim Edgar speaks to reporters in Springfield, Ill., Monday Oct. 12, 2009. (Seth Perlman/AP)

After two months of on-and-off negotiations, a panel of lawmakers continues to search for a fix to the state’s $100 billion pension mess – the worst in the country.

It’s a crisis that’s grown for decades, and that many economists blame for dragging down the state’s economy.

Democratic House Speaker Michael Madigan and Senate President John Cullerton each back different plans. Neither has gained wide-spread support.

In the 1990’s then-Gov. Jim Edgar signed a law to gradually increase pension funding to the 90-percent level over 50 years.

Illinois Public Media’s Sean Powers talks with Gov. Edgar about why he says the current crisis could have been prevented and what a solution might look like.

Categories: Economics, Government, Politics