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Wednesday, December 19, 2018

Illinois Pension Shortfall Worsens To $134 Billion Despite Strong Markets, Increased Contribs

The Illinois Commission on Government Forecasting and Accountability (COGFA) has released its latest state pension report. The numbers confirm what taxpayers already know and what Illinois politicians continue to ignore: Illinois needs massive pension reforms.

COGFA says that the state’s pension debt rose by more than $4 billion despite strong stock markets, a booming national economy and billions more in taxpayer contributions.

The total shortfall for Illinois’ five state-run pension funds – for teachers, state workers, university employees, judges and lawmakers – rose to $133.5 billion in 2018 compared to last year’s $129.1 billion in 2017. The plans’ fiscal year ended June 30, 2018.

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3 comments:

Anonymous said...

The dumbocrat house of cards is tumbling down.

Anonymous said...

Mark dice.

Anonymous said...

if it were a private pension, the PBGC would have shut it down since it is insolvent.