Public pensions are at risk of insolvency, but COVID-19 is not to blame – Tribune News Service

Illinois is ground zero for mismanaged pensions and offers instructive lessons on what not to do. It spends the most in the nation on pensions as a percentage of state and local revenue collections, about double the national average. It increased inflation-adjusted pension spending by more than 500% since 2000. But despite this first-in-the-nation spending, Illinois also has the worst pension-debt-to-revenue ratio among U.S. states, according to Moody’s.