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Illinois Pension Funds Brace for Long Term Debt
Illinois faces growing unfunded liabilities across 474 state and local pension funds with $12.5 billion in accrued obligations against $5.5 billion on hand in 1977. Lawmakers including Rep. Joseph Ebbesen propose slowing benefit growth or pumping more state dollars into funds to curb the gap. Experts differ on immediacy of crisis while urging fiscal impact statements and potential consolidation of downstate fire and police funds.
MENTIONED IN THIS ARTICLE
Joseph Ebbesen
R-De- Kalb
House Personnel and Pensions Committee
Ebbesen
Ed McCreight
Taxpayers’ Federation of Illinois
Robert Egan
Massachusetts
General Revenue Fund
State Department of Insurance
Pension Laws Study Commission
Downstate
McCreigh
Illinois
Tom Wellman
Lindsay-Schaub
R-Dekalb
The
Civic Federation
Edward McCreight
Taxpayers Federation
McCreight
Sarily Ans
Robert Mandeville
State Bureau of the Budget
State University
Mandeville
A. James Heins
Universityf Illinois
Heins
University of Illinois Journalism Department
Sun-Times
Springfield
Thompson
Bakalis
General Assembly
Wooten
Littlewood