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(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 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 ...
Credit ratings for state debt from S&P Global as of May 2021: ... 2023 [46] New Mexico: AA Aa2 [2] — New York: AA+ ... Illinois pension crisis; References
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. [1]
When looking at state public pension debt, Illinois has nearly double the pension liabilities of any other state. At the end of fiscal 2022, Illinois had $139.8 billion in public pension ...
Federal Employees Retirement System - covers approximately 2.44 million full-time civilian employees (as of Dec 2005). [2]Retired pay for U.S. Armed Forces retirees is, strictly speaking, not a pension but instead is a form of retainer pay. U.S. military retirees do not vest into a retirement system while they are on active duty; eligibility for non-disability retired pay is solely based upon ...
Around 86% of state and local government workers had access to a pension plan as of March 2022, according to the Bureau of Labor Statistics. Pensions are far less common in the private sector, but ...