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

Third ‘Night at the Museum’ marks final film for Williams, Rooney

nightatthemuseum

The credits for "Secret of the Tomb," which opens Friday, read "In loving memory of Mickey Rooney," and "For Robin Williams - the magic never ends."

in Music

Gene Simmons credits mother for drug-free life

Gene Simmons speaks onstage during the "4th and Loud" portion of the AMC 2014 Summer TCA on Friday, July 11, 2014, in Beverly Hills, Calif.

The Kiss frontman insists he has never been drunk or gotten high because he always worried about his mom's reaction.

in Music

Joan Jett to open for The Who’s 50th anniversary tour

joan

The "My Generation" hitmakers are set to bring their The Who Hits 50! tour to North America.