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A report the Legislative ... tax revenues delayed months by winter storms came in $26 billion under projections, compounding the gap expected in 2024-2025. ... when California was in the thick of ...
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.
Fixing the U.S. government’s finances has rightfully become one of the most critical tasks in politics today. The debt now exceeds $36 trillion, more than the combined debt of over 170 other ...
Old-age dependency ratio (2017) [1]. The pensions crisis or pensions timebomb is the predicted difficulty in paying for corporate or government employment retirement pensions in various countries, due to a difference between pension obligations and the resources set aside to fund them.
There was a 12 billion dollar investment income loss in 2008 and 55 billion in 2009. [4] The 124 billion dollars of income in the nine-year period 1999-2007 was reduced by half as a consequence of the combined losses of 67 billion in 2008 and 2009.
The IRS estimated that the national tax gap was $688 billion in 2021, up 14.4% from $601 billion in 2020 and nearly double from $345 billion in 2001.It attributed the tax gap increase to a growing ...
In the past five years, 201 athletic departments earned $26 billion. But they spent $35 billion. As a result, just 21 broke even or recorded a budget surplus. The other 180 used $10 billion in student fees and other support to make up for the shortfall.
In fiscal year 2017, ORS paid out over $7.3 billion in pension and health benefits. [1] According to the Pensionomics 2016 report from the National Institute on Retirement Security, pensions paid to Michigan retirees generated $11.1 billion in total spending in the state of Michigan. [2]