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Report warns against retiring in Illinois, cites pension debt

Kevin HoffmanReboot Illinois

Aug 01, 2016

If you’re retired or plan on a retiring in the near future, Illinois is one of four states to avoid, according to Governing Magazine.

Governing cited three recent studies by J.P. Morgan, PricewaterhouseCoopers and the Mercatus Center at George Mason University that assess various aspects of states’ financial health to determine which ones are most likely to raise taxes and cut essential government services in the coming years.

Connecticut, New Jersey and Kentucky also should be avoided, the report found.

Whopping public pension debt is the common denominator for all four.

Authors of the J.P. Morgan study calculated the…

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