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The Illinois Commission on Government and Accountability reports the state’s unfunded liability grew $1.5 million last year to $143.7 billion, the second highest since it was $144.2 billion in 2020.
(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 ...
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 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 Illinois Labor Relations Board (ILRB) is a State agency that administers the Illinois Public Labor Relations Act, the Act that governs relations between Illinois public-sector departments, agencies and offices on the one hand, and public-sector employees on the other. [1]
New York State Teachers: $115,637 $115,637 94.2% 7.5% 8 State of Wisconsin Investment Board: $109,960 $105,155 N/A N/A 9 North Carolina Retirement: $106,946 $96,094 88.3% 7.3% 10 Washington State Investment Board: $104,260 $86,615 85.5% 7.7% 11 Ohio Public Employees Retirement System: $97,713 $96,304 80.2% 7.5% 12 New Jersey Division of ...
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. Tool company to ...
In 2013, Representative Dunkin voted "yea" [7] to a plan that amended state employee pension plans by drastically reducing the constitutionally protected benefits of Illinois state employees in retirement. The Illinois Supreme Court ultimately found these legislative changes to be unconstitutional. [8]