The proposal, House Bill 4118, calls for triggering monthly transfers into the Budget Stabilization Fund and the Pension Stabilization Fund when the state's bill backlog is less than $3 billion. That's the point in which Mendoza's office estimates the state is paying bills within a 30-day cycle, which is customary in business.
Why would a state with huge pension liabilities put money into a Pension Stabilization Fund instead of just investing that money directly into the pension funds?
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
Why would a state with huge pension liabilities put money into a Pension Stabilization Fund instead of just investing that money directly into the pension funds?