Illinois State Board of Investment Chairman Marc Levine discusses the state’s pension fund problems.

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bob oriole park
4 years ago

Interesting because he acknowledged the fact we can’t invest our way out of the pension shortfall. While he mentions 120K active employees, according to the June 2016 General Obligation Bond offering from the state, IL has 766,976 total people in the state pension funds, but only 305,395 are active members. Less than 40% of the total participants are paying in the system, the rest are taking out which is why they are so upside down.

4 years ago

Ill State board of Investments manages 401Ks for state workers?? why don’t they just get to sign on w Fidelity, Schwab, Myeril Lynch.. like the rest of us? Don’t tell me they’re 401ks are guaranteed as well!