Illinois has not paid what it owes its five pensions systems, and it’s unlikely lawmakers will want to pay any more than they have to in the future.
“One-hundred-percent funding is impossible,” said state Sen. Pam Althoff, R-Crystal Lake. “As much as anyone would like to fully fund the pension systems, it is just not practical and impossible to implement.”
A new report from the Illinois Auditor General’s office suggests lawmakers fully fund two of the state’s five pension systems — the Teachers’ Retirement System, the State Universities Retirement System. The report suggests leaving the State Employees Retirement System, the General Assembly Retirement System and the Judges’ Retirement system with a target of 90 percent funded. ...More HERE
