A statewide concern: Illinois’ population decline outpaces neighboring states – Wirepoints on ABC20 Champaign
“We are not in good shape” Wirepoints’ Ted Dabrowski told ABC 20 Champaign during a segment on Illinois’ latest population losses. Illinois was one of just three states to shrink in the 2010-2020 period and has lost another 300,000 people since then. Ted says things need to change. “It’s too expensive to live here, there aren’t enough good jobs and nobody trusts the government anymore. There’s just other places to go where you can be more satisfied.”
But retirees earned the COLA increases!
Has anyone ever calculated the impact of the guaranteed 3% cola versus rate of inflation increases to state pensions since Thompson enacted this misguided legislation?
Some previous work indicated that the COLA alone accounts for close to 40% of the unfunded liability. Stay tuned! We will have more out on that question soon.