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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 Illinois Public Pension Amendment was a proposed amendment to the Illinois state constitution. On November 6, 2012, Illinois voters rejected it in a statewide referendum. [1] A legislatively referred constitutional amendment, if approved, it would have amended the Constitution of Illinois. [1]
(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) – 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 ...
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 ...
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 require a 60% majority of both houses for any increase to pension benefits. [6]
(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 state employees pension system holds $22.5 billion in assets and $52 billion in liabilities. ... Mendoza could deposit the entire rainy day fund in Illinois' public pensions, and the new ...