Illinois budget gimmicks continue; we have an opportunity to fix them – Truth in Accounting

"In his address, Gov. Pritzker highlighted that the budget includes the 'full required pension payments,' which amounts to $9.3 billion. These payments are based upon a pension funding scheme so outrageous that an SEC official called it a 'balloon payment on steroids.'"
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Mike
5 years ago

Can you explain the full actuarial pension discrepancy between the TIA and WP articles?

With links to documents?

“These actuaries say the amount required to properly fund the pensions is $14.5 billion, which is $5.2 billion higher than the amount included in the Governor’s budget.”

https://www.truthinaccounting.org/news/detail/illinois-budget-gimmicks-continue-we-have-an-opportunity-to-fix-them

True actuarial pension costs would add another $4 billion to the budget, while retiree health insurance would add about $2 to $3 billion more.”

https://wirepoints.org/what-pritzkers-2022-budget-proposal-doesnt-do-fix-illinois-wirepoints

No rush.

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