State worker pension systems reach best shape since 2008, study finds. Illinois ramping up contributions but still behind. – Chicago Tribune*

The Pew Charitable Trust also found that the four states with the most endangered pension systems — Illinois, Kentucky, New Jersey and Pennsylvania — have been ramping up their contributions, averaging annual growth of 16%. Nevertheless, Illinois and New Jersey’s plans still had slightly under 40% of their required funding by 2019.
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Freddy
4 years ago

What about this for a headline-
Pensions are in a better shape but taxpayers wallets are anorexic.

Admin
4 years ago

Really irresponsible of the Tribune to publish this AP article the way it did, making it look like the report says something positive about IL.

nixit
4 years ago

<Investment riding a bubble> reaches best shape since <last bubble>

Tom H
4 years ago

HAHAHAHAHAHAHAHAHAHAHAHAHAHA Is this the Onion?!?!?!!?!? Here’s a few alternate headlines:

“Illinois now only owes $325B”
“Illinois now owes less than New Jersey, per taxpayer”
“At this rate, Illinois will now fully fund pensions by your great great great grandchild’s 10th birthday”
“After claiming victory over unfunded pensions, Gov Pritzker claims both mansions uninhabitable”

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Mark Glennon on AM560’s Morning Answer: Chicago pension buyout plan mostly shifts debt rather than eliminating it, property tax surge doubles inflation over three decades

Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.

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