CHICAGO — With Ill. Gov. Pat Quinn, Chicago, other local governments, and bond investors all clamoring for action on the state's unfunded pension obligations, the General Assembly convened its brief annual veto session Tuesday with little indication that it is ready to tackle the issue.

Quinn on Tuesday countered recent comments from the state senate president that questioned whether the state's pension woes represent an immediate "crisis." Quinn called the state's unfunded pension liabilities an "extreme emergency."

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.