In his fiscal year 2025 budget proposal, Gov. JB Pritzker said adding three additional years to the funding payment plan will get the state "on a path to 100% funded like peer states." He calls for an increase in the state's annual pension contributions when legacy debts are paid off, and proposes dedicating half the revenue being used to pay off those bonds to make additional pension contributions when those debts are paid.
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.
As soon as we pay of legacy debt and other things, we’re going to fund the pensions 100%. So never, right JB?
Is this some type of joke? Illinois will never get pensions 100% funded before a bankruptcy or restructuring.
JB Pritzker is seemingly innumerate. Illinois is generations away from 100% pension funding.