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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.
On August 17, 2012, Governor Pat Quinn called the General Assembly into special session to address the Illinois pension crisis. [5] No changes to the state pension system were passed. The House and Senate voted to place the Illinois Public Pension Amendment on the November 2012 ballot, which would have amended the Illinois Constitution to ...
(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 ...
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’ 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 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.
The history of Illinois may be defined by several broad historical periods, namely, the pre-Columbian period, the era of European exploration and colonization, its development as part of the American frontier, its early statehood period, growth in the 19th and 20th centuries, and contemporary Illinois of today.
These states' pensions are in the worst shape. For premium support please call: 800-290-4726 more ways to reach us