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(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 report found Illinois’ unfunded pension liability, when including other post employment benefits, is $206.5 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.
SURS has been developing its investment program since the early 1980s, when Illinois, like many other states, changed its laws to allow the state pension funds to adopt modern investment practices. At the same time, the new laws established a high standard of fiduciary responsibility, namely adopting the prudent expert rule.
Illinois pension liability 2nd worst in U.S. Illinois’ unfunded pension liability compared to personal income is the second worst in the country, according to a nationwide report from Fitch Ratings.
Illinois: BBB+: BBB-BBB-BBB- ... Illinois pension crisis; References This page was last edited on 16 August 2024, at 17:45 (UTC). Text is ...
Illinois’ unfunded pension liability is $140 billion. That doesn’t include tens of billions in liabilities from subsidized health care coverage for public employee retirees.