Despite a tripling in the value of the S&P 500 index since July 2009, Illinois’ pension shortfall has worsened by 75 percent during the same period. The warning this trend provides is stark: if pension debts in Illinois continue to grow during a period of remarkable stock market returns, imagine how those funds will fare when the next recession inevitably hits.
CPS says enrollment fell by another 6,000 students in 2019. How can Mayor Lightfoot and CPS grant the CTU what the mayor calls the “most generous contract” in the union’s history when the school district continues to shrink?
Preliminary reports from Illinois’ state actuaries show the state’s pension shortfall worsened to a record $137 billion in 2019. The data also shows the state’s total pension costs in 2019 exceeded $10 billion, the first time in state history.
After self-funding our efforts for years, we’re ready to expand by increasing our media reach, covering more governments and exposing more of the issues plaguing Illinois. We’re fighting to help make this state work for Illinoisans once again.