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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.
Illinois public pension debt grows Illinois’ pension situation is getting worse. The Commission on Government Forecasting and Accountability reports the total unfunded liability is 46% with a ...
The Illinois Supreme Court on Friday endorsed the consolidation of local police and firefighter pension systems, a rare victory in a yearslong battle to find an answer to the state's besieged ...
(The Center Square) – Illinois’ pension debt compared to personal income is the second worst in the nation. Fitch Ratings reviewed pension funds for public employee retirees from every state ...
The Illinois Public Pension Amendment was a proposed amendment to the Illinois state constitution. On November 6, 2012, Illinois voters rejected it in a statewide referendum. [1] A legislatively referred constitutional amendment, if approved, it would have amended the Constitution of Illinois. [1]
(The Center Square) – Illinois unfunded pension liability is growing. The Illinois Commission on Government Forecasting and Accountability reports the latest unfunded liability is $143.7 billion.
He supported Rauner's campaign promises to "cut spending and overhaul the state's pension system, impose term limits, and weaken public employee unions". [104] Griffin called for a show of financial support to Rauner that met with an increase in campaign donations representing tens of millions of dollars, or half the $65 million spent on Rauner ...
(The Center Square) – The push is on for Illinois legislators to advance some form of pension reform to address what proponents say are shortfalls in Tier II pensions. Illinois implemented Tier ...