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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 Commission on Government Forecasting and Accountability reports the latest unfunded liability is $143.7 billion. That’s $1.5 billion higher than last year and the second highest ...
(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 ...
In 2005, "Public Official A" was alleged to have selected consultants for private equity funds that appeared before the Illinois State Pension Funds via two close associates. [2] Those associates - Stuart Levine and Tony Rezko - were indicted by Attorney Fitzgerald. This led to considerable public speculation in 2006 that Blagojevich was ...
The Illinois Policy Institute (IPI) a free market nonprofit think tank with offices in Chicago and Springfield. [2] Founded in 2002, it is active in the areas of education policy, pension policy, and state budget issues. [3] IPI advocates for smaller government and lower taxes. [4] [5] It has an affiliated lobbying arm and legal arm. [4]
(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 ...
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.