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“This was up 21.2% from the $762 billion reported last year, as post-pandemic asset values surged, but it remained below the $1 trillion level reached in fiscal 2021.” The report found ...
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 ...
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]
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 ...
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.
It was renamed the Butch Lewis Emergency Pension Plan Relief Act of 2021 . [12] This version of the bill was included as a part of the American Rescue Plan, Congress' 1.9 trillion dollar economic relief package in response to the COVID-19 pandemic. [13] The American Rescue Plan, including the Butch Lewis Emergency Pension Plan Relief Act ...
Mendoza achieved that goal by depositing $11.5 million in the fund Monday, that sum pushing Illinois over the $2 billion mark. That's a huge improvement from 2017, when the fund held just $48,000.