Unfunded Public Pensions

by Kate Piercy R. Eden Martin, president of the Civic Committee of the Commercial Club of Chicago, offers some solutions to the critical pension problem facing Illinois in today’s Wall Street Journal. Martin concludes, “Public pension funds are in dire need of change, but state and local hopes for a federal bailout now stand in the way...

by Kate Piercy

R. Eden Martin, president of the Civic Committee of the Commercial Club of Chicago, offers some solutions to the critical pension problem facing Illinois in today’s Wall Street Journal.

Martin concludes, “Public pension funds are in dire need of change, but state and local hopes for a federal bailout now stand in the way of change. Quashing that hope—which the Obama administration could do with an explicit statement that it will not bail out state and local pension funds—would spur the reforms we need.”

For a details on Martin’s proposals, click here. Also, to see what the Illinois Policy Institute has to offer on this subject, check out its “Pension Funding and Fairness Act.”