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Ill ponders pension buyout extension funded with $1B of borrowing

Illinois' nearly exhausted $1 billion of GO bonding authority for existing pension buyout programs would get a $1 billion infusion under pending legislation.

United statesBruce raunerTim blairBob morganPensions committeeFitch ratingsMoody investors serviceIllinois supreme courtCommission on government forecastingHouse personnelTeacher retirement systemState employee retirement systemState universities retirement systemGovernment forecastingInvestors servicePension obligation bond

To fix Illinois pension crisis, first change its constitution

Illinois allocates more of its budget to pensions than any other state, but pension spending has only skyrocketed. A constitutional amendment is the only way to reform the state’s unsustainable and underfunded pension systems.

United statesIllinois policy instituteIllinois supreme courtDaley college professor mike crenshawCollege professor mike crenshawState universities retirement systemIllinois constitution

Illinois education board wants more funding for colleges | Crain s Chicago Business

Illinois education board wants more funding for colleges | Crain s Chicago Business
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United statesIllinois boardHigher educationState universities retirement system

Audits show Illinois pension funds failing by less

(The Center Square) – Audits of some of the state’s largest public employee pensions show increased funding ratios, but the state is far from out of the woods on the unfunded liability. A state Representative isn’t hold.

United statesMark batinickCenter squareCommission on government forecastingIllinois auditor generalTeacher retirement systemChicago publicState universities retirement systemGovernment forecasting

Illinois pension debt is little less worse, but still worst in U S

Illinois’ worst-in-the-nation pension debt shrank slightly after investments more than tripled predictions, thanks partly to COVID-19 stimulus. Experts caution 1 year cannot undo decades of overpromising and underfunding.

United statesState of illinoisAlexis sturmIllinois policy instituteAnalysts at moody investors serviceCommission on government forecastingReason foundationOffice of managementGovernment forecastingInvestors serviceState universities retirement systemState employees retirement systemTeachers retirement systemIllinois constitution