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Stephen Schnorf - Pension Crisis in Illinois

Stephen Schnorf, former Budget Director for Governors Jim Edgar (1997-1998) and George Ryan (1999-2002), and former director of Central Management Services during the Edgar administration, discusses how the Illinois state budget was affected by the upward spiral of public pension costs, due in part to pension enhancements, early retirement options, a downturn in the economy and pension reforms enacted in 1995 during the Jim Edgar administration.