Illinois seems to be one of the worst states for unfunded liability in the pension system. Indiana has unfunded liability in the teachers pension system, which is on a pay as you go basis, and I think some of the police and fire pension systems are shaky.
The Heritage Foundation says that the USA has a total of six trillion dollars in unfunded pension liabilities. Illinois is responsible for 250 billion dollars of unfunded liabilities with people moving out of the state at a high rate. How Big Is Your State’s Share of $6 Trillion in Unfunded Pension Liabilities?
An "Only in Illinois" video shows how one school principal worked 33 years and her school system paid another 2 years so that she could qualify for full benefits with 35 years. She paid in about $360,000 but is expected to withdraw a total pension of $7,100,000 at least. (Nothing is too good for the American taxpayer.)
Watch the three-minute video from Only in Illinois:
The Heritage Foundation says that the USA has a total of six trillion dollars in unfunded pension liabilities. Illinois is responsible for 250 billion dollars of unfunded liabilities with people moving out of the state at a high rate. How Big Is Your State’s Share of $6 Trillion in Unfunded Pension Liabilities?
An "Only in Illinois" video shows how one school principal worked 33 years and her school system paid another 2 years so that she could qualify for full benefits with 35 years. She paid in about $360,000 but is expected to withdraw a total pension of $7,100,000 at least. (Nothing is too good for the American taxpayer.)
Watch the three-minute video from Only in Illinois:
