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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]
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.
Over the following decade, funding levels improved over 2009’s all-time low, until the Covid-19 pandemic ushered in an era of unprecedented market volatility. The on-set of the pandemic resulted in funded ratios dropping back down to 71.2% in 2021, followed by a rebound to 84.5% in 2021.
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 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 ...