Illinois state pension debt climbs to $144B

Dec 16, 2024 · Statewide pension debt has grown to $143.7 billion from $142.2 billion in the past year, according to a new report from the state legislature’s Commission on Government Forecasting and ...

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Illinois State Pension Debt Climbs To $144B

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illinoispolicy.org

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From IPI: Illinois State Pension Debt Climbs To $144B

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Dec 18, 2024 · Statewide pension debt has grown to $143.7 billion from $142.2 billion in the past year, according to a new report from the state legislature’s Commission on Government …

ibjonline.com

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Illinois Pensions Face Near-record $144B Funding Hole — But Show …

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Dec 11, 2024 · Vallas said that, even if the state is near a point of treading water, Illinois’ pension debt still is much higher than that in surrounding states and diverts money that is needed for …

chicagobusiness.com

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Illinois News Headlines For Dec 16 | Illinois Policy

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Dec 16, 2024 · Illinois state pension debt climbs to $144B. By LyLena Estabine. 12/16/2024. Chicago Office | Illinois Policy 300 S. Riverside Plaza | 1650 | Chicago, IL 60606 t …

illinoispolicy.org

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Illinois’ Pension Debt Grows | Nerd Wallet | Dailygazette.com

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Dec 12, 2024 · The Illinois Commission on Government Forecasting and Accountability reports the latest unfunded liability is $143.7 billion. That’s $1.5 billion higher than last year and the …

dailygazette.com

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Illinois State Pension Debt Climbs To $144B – Illinois Policy

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Dec 16, 2024 · Ted joined LaDonna Raeh of WVON to talk about the state’s $172 billion in official pension debts, the problem with having two classes of workers in Illinois, the need to move …

wirepoints.org

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Illinois Public Pension Debt Grows To $140B

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Dec 14, 2022 · Illinois’ five statewide pensions system saw their debt increase by nearly $10 billion to a grand total of $140 billion in fiscal year 2022. Pensions will cost the state nearly $11 …

illinoispolicy.org

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Illinois State Pension Debt Climbs To $144B – Illinois Policy

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More state employees retired, more lived longer and they retired at higher-than-expected salaries to keep the debt growing. Illinois state pension debt climbs to $144B – Illinois Policy

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ILLINOIS PUBLIC PENSION DEBT GROWS TO $140B

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Dec 16, 2022 · Illinois’ state pension debt now stands at $139.7 billion, according to a new report from the Illinois General Assembly’s Commission on Government Forecasting and …

actuarial.news

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LyLena Estabine | Illinois Policy

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She researches housing affordability, pension reform, and poverty alleviation. ... Illinois state pension debt climbs to $144B. By LyLena Estabine. 12/16/2024. Center for Poverty Solutions / …

illinoispolicy.org

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Illinois State Pension Debt Climbs To $144B – Bgodinspired.com

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Illinois state pension debt climbs to $144B. ... Illinois Public Pension Debt Grows by $1.5 Billion Amid Struggles for Financial Stability. Illinois is facing a significant challenge as its unfunded …

bgodinspired.com

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Illinois Pension Debt Is Little Less Worse, But Still Worst In U.S.

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Dec 17, 2021 · Illinois reported its worst-in-the-nation public pension debt decreased $14 billion in fiscal year 2021 – the first drop in four years, according to the state legislature’s Commission …

illinoispolicy.org

FAQs about Illinois state pension debt climbs to $144B Coupon?

Are Illinoisans on the hook for billions more in pension debt?

Illinois lawmakers continue to ignore pension reform so, not surprisingly, Illinoisans are on the hook for billions more in pension debts. ...

How much did Illinois' public pension liabilities grow in the past year?

Illinois' unfunded statewide public pension liabilities grew another $1.5 billion in the past year. Better investment returns couldn’t keep up with public worker pensions growing faster than projected. ...

Will Illinois reduce pension appropriations in fiscal year 2024?

Illinois is planning to reduce pension appropriations by $40 million in fiscal year 2024, despite the growth in the state's unfunded pension liabilities. ...

How can Illinois prevent unfunded pension liabilities from growing more?

By reducing the growth rate of liabilities, buyout provisions and Tier 2 have provided marginal relief to Illinois pensions. To prevent the unfunded liability from growing more in the future, Illinois lawmakers should consider: ...

What if Chicago's pension fund goes bankrupt?

If the pension fund does get close to insolvency, Chicago can most likely keep the pension checks flowing by suspending payments to bondholders. Illinois has no legal provision for Chicago to declare bankruptcy, meaning the state would be forced to rush legislation into place to prevent financial chaos. ...

Will Chicago keep pension checks flowing if the pension fund is insolvent?

City leaders may continue to ignore these warnings. If the pension fund does get close to insolvency, Chicago can most likely keep the pension checks flowing by suspending payments to bondholders. ...