Illinois pension unfunded liability

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: