Report: Illinois, Chicago public pension crises worst in U.S. – Illinois Policy

Gov. JB Pritzker and others are touting Illinois’ financial improvements, but a new report by Equable Institute shows just how little improvement has been made on Illinois’ biggest financial problem – pension debt. Not only are Illinois’ pension systems most likely to default, the state has the lowest capacity to pay the debt compared to other states.

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Mark Glennon on AM560’s Morning Answer: Chicago pension buyout plan mostly shifts debt rather than eliminating it, property tax surge doubles inflation over three decades

Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.

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