This is a premium article. Please subscribe to view all content.

 

You thought $111 billion in Illinois pension debt was bad?

Kevin HoffmanReboot Illinois

Aug 10, 2016

Get ready taxpayers, because the more than $111 billion in Illinois pension debt is about to get a whole lot worse, and as usual, we’ll all be footing the bill in the years to come.

A combination of diminishing investment returns, low interest rates and market volatility is leading the state’s retirement plan managers to revise their investment return assumptions, in turn, compounding Illinois’ pension crisis.

In fiscal year 2015, market value investment returns were below the assumed rates of return for all five of the state’s retirement systems and the Illinois Municipal Retirement Fund, according to each fund’s comprehensive annual financial report. The…

No subscription? You’re missing out.

Join us. There has never been a more critical time to Reboot Illinois...

share to facebook share to twitter comment
 
Comments
Be the first to respond to this quote.
Add a Comment commt
Loading...