CHICAGO – Pension reform proposals advanced in the Illinois General Assembly this week ahead of a spring recess, offering signs of progress while also raising questions over the prospects for a major overhaul that could spare the state further rating downgrades.

The Illinois House on Thursday passed in a 66-50 bipartisan vote legislation that limits cost-of-living adjustments. The measure, sponsored by Democratic House Speaker Michael Madigan, would impact four of the state’s five pension funds that cover current and retired state employees, teachers outside of Chicago, lawmakers, and university employees.

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