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 Local

Ball-Chatham Teachers, School Board Approve New Contract


A total of six percent-plus pay raises over three years.

in Local

Butler Supports Rauner’s Refugee Move

Rep Tim Butler

State Representative Tim Butler stands behind Governor Bruce Rauner in temporarily halting the admission of refugees from Syria into Illinois.

in Local

Pension Benefits Cut for New Firefighter Hires

fire truck

Firefighters hired from here on out for the Springfield Fire Department will not receive a perk that current firefighters get.

in Local

Appeals Court Upholds Beason Murder Conviction


The Fourth District Appellate Court has upheld the convictions of a man for fatally beating five members of his ex-wife's family in their central Illinois home.

in Local

Judge Will Not Reinstate Bloomington Murder Charges


A McLean County judge has turned down a prosecution request to reinstate murder charges against a Bloomington woman in the death of her young son.