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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.
(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 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 ...
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 Illinois Municipal Retirement Fund (or IMRF) is the second largest and best-funded public pension system in Illinois. Since 1941, has partnered with local units of government to provide retirement, disability and death benefits for public employees.
Teacher Retirement System of Texas: $146,326 $146,326 79.7% 8.0% 7 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 ...
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 ...
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 ...
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