Whew – Illinois Is (Probably) Not Going To Bail Out Chicago’s Pensions – Forbes

Jane the pension actuary: "I can only repeat, again and again:  there is no solution to the woefully underfunded pensions, in Chicago and in Illinois, that does not involve benefit cuts subsequent to a 2020 constitutional amendment or municipal bankruptcy.  And the sooner Pritzker and Lightfoot figure that out, the better off we'll all be."
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Freddy
4 years ago

Don’t bet on it. How many Democrats from Chicago voted for JB. Some how some way more money will be diverted to Chicago. It always does always will.

NB-Chicago
4 years ago

Another block buster must read by Bauer–“43% of all public pension plans in the United States are Illinois”–unbalievable insanity!!!!

Mike
4 years ago
Reply to  NB-Chicago

The 43% figure is probably bogus because it uses 1,511 public pension plans in the United States. The 1,511 source is a 2012 report by Marquette Associates for COGFA. “According to publicly available data, there are 1,511 public pension plans in the United States. With 657 public pension plans, Illinois has the largest number of public pension funds in the country.” In a December 11, 2013 report, Illinois Policy Institute calculated the 43% via division: 657 / 1,511 = 43%. https://www.illinoispolicy.org/illinois-has-43-of-the-countrys-public-pension-plans But Marquette Associates didn’t document the source(s) of the “publicly available data” in its report. http://cgfa.ilga.gov/Upload/Feb2012MarquetteAssocStudyforCGFA.pdf The US Census… Read more »

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