News

IPI: Illinois Pension Funding = Problematic

IPI: Illinois Pension Funding = Problematic

Photo: Newsradio WTAX

Illinois’ unfunded pension obligations, along with a state Supreme Court ruling that state retirees cannot be forced to pay health insurance premiums, have the state up against it. We can all agree on that.

The right-leaning “free market” advocacy group Illinois Policy Institute says new standards from GASB – the Government Accounting Standards Board – magnify the problem.

Ted Dabrowski, IPI’s vice president of policy, says the state’s taxpayers are on the hook for $56 billion, and that’s more than 10 percent of the total for the fifty states.

“Most governments are overly optimistic about the investment returns they have,” Dabrowski says, and “the pension shortfalls are much higher.”

IPI points out most private-sector retirees have no expectation their employers will pick up the health premiums.

Recent Headlines

in Entertainment

Fall TV: What to watch

19-overlay

Fall is here and that means it's time to clear your DVRs and get ready for a new season of shows.

in Entertainment

WHAT’S ON: New on Netflix, Amazon & Hulu in September

netflix

A long holiday weekend is the perfect time to binge watch.

in Entertainment

Ed Skrein takes over driving seat in ‘The Transporter Refueled’

16-overlay5

Action thriller franchise "The Transporter" is back with a fourth installment and a new star, with British actor Ed Skrein stepping into the black suit of lead character, former special ops mercenary Frank Martin.