Gov. Pat Quinn has signed a law that will reduce state legislators' compensation by more than $3,000 a year.

Quinn signed the law Friday with his office saying it will help close Illinois' budget deficit. It requires legislators to give up 12 days' worth of pay, or about $3,100 each. It is effective immediately.

This is the fourth straight year lawmakers have taken a pay cut. The money saved is minuscule compared to the billions of dollars' worth of red ink in the state budget, but lawmakers consider it an important symbol that they're sharing the pain.