Report: Illinois’ pension debt tops $300 billion
Long-term economic outlook shows challenges ahead
PETER HANCOCK
Capitol News Illinois
SPRINGFIELD – A new report by the credit rating agency Moody’s says Illinois will set a new record this year when it reports a total net pension liability of more than $300 billion, the highest of any state in the nation.
As of June 30, 2020, the report stated, the total unfunded liabilities of the state’s five pension systems stood at $317 billion, a 19 percent increase from the prior year. That was largely due to historically low interest rates, which have depressed pension fund earnings throughout the country.
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Illinois pension debt tops $300 billion - highest in the nation
Peter Hancock, Capitol News Illinois
March 6, 2021
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A report by the credit rating agency Moody’s says Illinois will set a new record this year when it reports a total net pension liability of more than $300 billion the highest of any state in the nation.
As of June 30, the total unfunded liabilities of the state’s five pension systems stood at $317 billion, a 19% increase from the prior year, according to the report. That largely was due to historically low interest rates, which have depressed pension fund earnings throughout the country.
Capitol News Illinois
SPRINGFIELD A new survey of Illinois school districts shows most are continuing to have trouble filling open teaching positions with qualified teachers and even more are having difficulty hiring substitute teachers.
It’s a problem that has existed in the state for many years and one that experts attribute to a variety of factors, such as low pay and the difficulty in attracting new teachers to work in certain parts of the state.
The survey has been conducted each of the past four years by the Illinois Association of Regional Superintendents of Schools. Regional superintendents are in charge of supervising schools in the state’s 38 educational regions and operating regional offices of education. They also act as a kind of conduit of information and support between the Illinois State Board of Education and the state’s 853 local school districts.
Credit Capitol News Illinois
A new survey of Illinois school districts shows most are continuing to have trouble filling open teaching positions with qualified teachers and even more are having difficulty hiring substitute teachers.
It’s a problem that has existed in the state for many years and one that experts attribute to a variety of factors, such as low pay and the difficulty in attracting new teachers to work in certain parts of the state.
The survey has been conducted each of the past four years by the Illinois Association of Regional Superintendents of Schools. Regional superintendents are in charge of supervising schools in the state’s 38 educational regions and operating regional offices of education. They also act as a kind of conduit of information and support between the Illinois State Board of Education and the state’s 853 local school districts.