News

Study: Pension Reform Flawed

Study: Pension Reform Flawed

Photo: Newsradio WTAX

 

The pension overhaul which passed the legislature last month doesn’t do everything. A new study from the U of I’s Institute of Government and Public Affairs says the state still stands to have a multi (b) billion dollar deficit even after it’s caught up on the pension obligations.

The study’s author, economist Dick Dye, says, β€œThe structural deficit – the mismatch between sustainable revenues and spending patterns – is not, in the next ten years at least, fixed. It shaves about $1 billion off the deficit, but a deficit that’s growing from about $4 billion a year to fourteen in ten years.”

Of course, stabilizing the pension problem was the goal, though Dye says the public, and even some lawmakers, may not fully understand that’s all the new law does.

Recent Headlines

in Local

Snuff the Butt at UI Tailgate Parties

cigarette butt

Enforcement still up in the air

in Local

Decatur Asian Carp Screen Back in Place

Lake Decatur

Bad winter weather damaged screen

in Local

Medical Marijuana Applications Posted for Business

marijuana

Applications for medical marijuana begins September 2 for patients, September 8 for dispensaries.

in Local

Illinois Museum to Display 1916 Military Equipment

ihpa logo

Military equipment from 1916 to be on display starting September 6.

in Local

Reaction to IDNR’s Long-Awaited Fracking Rules Proposal

frack

One expert laments the length of time it took DNR to write the rules, which he says are too restrictive. Meanwhile, another expert says she'll have to see what the rules are before she calls them restrictive.