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Capitol Fax com - Your Illinois News Radar » Our sorry state

This is incredible. The biggest non-political issue this state faces. Yet, the GA is more worried about naming streets after their friends, making buildings safe for birds, and making sure landscapers are licensed. Even when you pay the full amount, the pension debt goes up. There is no way the State can dig out of this hole. that is why no one is talking about it. Sad. We need to get a handle on retiree health care costs and the easiest way to do that is to pay Medicare rates, not ‘market’ rates which are absurdly expensive. (Lots of those providers are out of state. Maybe we can start there).

Illinois pension fund liability jumps 19%

Illinois pension fund liability jumps 19% Getty Images Illinois adjusted net pension liability will total $317 billion for the current year, according to Moody s Investors Service. The total reflects the June 30 funding position of the state s five pension plans connected with the state s June 2021 financial reporting, a report issued Wednesday by Moody s said. The revised liability total is based on the aggregate adjusted net pension liability of Illinois five state pension funds as of June 30, which represented a 19% increase from the prior year. The increase was driven by the fall of the FTSE Pension Liability index to 2.7% as of June 30 from 3.51% a year earlier.

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