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(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 BGA maintains an Illinois Public Salaries Database, which allows the public to research the compensation for employees in all levels of state government. The BGA submitted nearly 1,000 Freedom of Information Act requests to update the database in 2020. The database separates bonus pay and overtime from base salaries, and also allows users ...
(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 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 Retirement Systems Reciprocal Act ensures that pension credits remain in the system in which they are earned. You may not transfer your credits from one system to another. You will be entitled to a retirement annuity from each system, and you survivor(s) will qualify for a survivors annuity, if:
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 ...
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]