This Crisis Is CRUSHING Illinois Taxpayers

Illinois’ statewide public pensions are in the worst shape in the nation - by multiple measures.
Yet political leaders either don’t get it or fail to admit it.
Illinois’ biggest financial problem is its pension debt.
Illinois ended the 2023 fiscal year with an estimated $429 billion in pension liabilities but only $218 billion worth of assets, leaving the state with $211 billion in unfunded state and local pension liabilities.
The pension systems’ collective funding ratio of 50.8% was the lowest in the nation.
Experts warn pensions with funding ratios below 60% are deeply troubled and plans with funding ratios below 40% are likely to be past the point of no return.
Illinois Policy Institute Director of Fiscal and Economic Research Bryce Hill joined Fox Illinois to discuss the magnitude of Illinois' crisis - and which states are getting it right.
#politics #economy #retirement #tax #finance

[@skylark9982]

Off the subject
Can you please do something or a Illinois Politician you know. Help us Illinois Tax players with the 60-80yr old Waukegan DMV the place is so small where it definitely needs to be moved or built elsewhere in the City !?!? with how populated Lake County has become and same goes for Post Offices like the Zion Illinois and others !
It's getting to be ridiculous !
Thank you and God Bless

[@jmsdeco]

How about gov employees take care of their own retirements like most taxpayers do. Get rid of the pensions altogether.

[@Stil1_loading]

It’s not even the majority it’s the big politicians that exploited loopholes to rake in thousands more than when they made while workers

[@willimdrei]

According to the governor everything is "Fine"

[@Stil1_loading]

He is gonna be fine