Lawmakers are scheduled to return to Springfield November 29 to discuss several outstanding issues, including ongoing budget concerns and proposed tax breaks for two major Illinois employers; however, a new report shows the state’s annual pension obligation is set to increase by $1 billion in the next fiscal year.

Medicaid expenses were already projected to grow by more than $3 billion in the coming year, and new figures released by the state’s pension systems show that Illinois’ mandated contribution to the retirement systems is expected to increase by $1 billion. Reportedly, the state’s pension obligation will increase from $6.4 billion in Fiscal Year 2012 to $7.4 billion in Fiscal Year 2013.

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