Securities and Exchange Commission

Illinois Pensions
12:18 pm
Mon March 11, 2013

Illinois Settles Federal Securities Fraud Case Over Pensions

An extreme closeup of U.S. currency.
(via Flickr/kevindooley)

Updated 12:41 p.m.

Illinois is settling a federal securities-fraud charge that it misled investors about the health of its pension system.

Gov. Pat Quinn's office said Monday that the state has agreed to settle the Securities and Exchange Commission case. The SEC said in a news release that Illinois admitted no wrongdoing but has made more complete disclosures since 2009.

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