Pension news doesn’t alleviate underlying financial pressures, new report states. 20% investment returns drive major reduction in unfunded liabilities
Illinois' unfunded pension tab dropped slightly to $139.9 billion from $141 billion on an actuarial basis while the market value view saw a $14 billion cut thanks to exceptional returns.
The state saw its unfunded pension liability decrease in fiscal year 2021 for the first time in four years, due in large part to investment returns that exceeded 20%, according to a new report from the Commission on Government Forecasting and Accountability.
The state saw its unfunded pension liability decrease in fiscal year 2021 for the first time in four years, due in large part to investment returns exceeding 20%, according to