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In 2023, the state paid its more than 124,000 workers a cumulative salary of more than $6.4 billion, according to data from the Illinois Comptroller's office. Here are the top 10 paid state ...
The Illinois pension crisis refers to the rising gap between the pension benefits owed to eligible state employees and the amount of funding set aside by the state to make these future pension payments. As of 2020, the size of Illinois' pension obligation is $237B, but the state's pension funds have only $96B available for payouts to retirees.
The State contribution, as a percentage of the applicable employee payroll, shall be increased in equal annual increments over the 7 year period until the funding requirement specified above is met." [7] People EX REL. Sklodowski V. STATE The General Assembly and the Governor did not live up to the provisions of this amended 15-155.
Changes from the “Tier I” pension law include raising the minimum eligibility to draw a retirement benefit to age 67 with 10 years of service, initiating a cap on the salaries used to calculate retirement benefits, and limiting cost-of-living annuity adjustments to the lesser of 3 percent or half of the annual increase in the Consumer Price ...
Behind only Connecticut, Fitch pegs Illinois’ unfunded pension liability and other post employment benefits at $206.5 billion, taking up 22.8% of the state’s personal income.
(The Center Square) – Unemployment in Illinois climbed to 5.3% in October, making the state home to the third highest jobless rate in the country. All told, some 346,000 residents were left ...
In July 2017, OpenTheBooks released an editorial on Forbes titled Why Illinois is in Trouble - 63,000 Public Employees with $100,000+ Salaries Cost Taxpayers $10B. They found, in total, roughly $12 billion in cash compensation flowing to six-figure government workers when counting the 9,031 federal employees based in Illinois. [41]
The database comprises the annual salaries of CCG full-time employees as of Oct. 30, 2023. City government salaries are public information and can be obtained through a request under the Georgia ...