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Eric Madiar - Pension Crisis in Illinois

Eric Madiar reviews the history of Illinois's five state pension systems, beginning his review with events in 1917, and continuing with the inclusion of a pension clause in the 1970 State Constitution, plus court cases that followed which defined the clause. Madiar also addresses the efforts to deal with the pension system's ballooning deficits with the passage of Senate Bill 1 in 2013, which was ruled unconstitutional in 2015.