-- Connecting the dots between our economy, government and business --
Assuming things are better doesn’t make things better.
Wirepoints’ recent commentary on Illinois’ skyrocketing pension benefits left many readers questioning where that massive growth in pension promises came from. The answer is simple. The growth is due to overly generous benefits and more accurate reporting.
By Wirepoints’ Mark Glennon.
The leading figure in the effort to bring more honesty to actuarial reporting on pensions.
The western Chicago suburb of Forest Park became the fifth Illinois community since early last year to suffer a multi-level rating cut from Moody’s Investors Service with pension strains cited a key factor.
“Not many actuaries receive obituaries in the New York Times and Wall Street Journal.”
Who knew?
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