Each Illinois household on the hook for $56K in government-worker retirement debt

By Ted Dabrowski, John Klingner
03/23/2017
In 2010, the unfunded debt related to pensions and retiree health care costs for local and state government workers across Illinois was $203 billion, the equivalent of more than $43,000 per household. In just six years, the total debt Illinois households are on the hook for has jumped to $56,000, or 31 percent. That’s a $13,000 increase for each household. Total unfunded debt for state and local governments in Illinois now totals $267 billion.

TAGS: GARS: General Assembly Retirement System, JRS: Judges’ Retirement System, pensions, SERS: State Employee Retirement System, SURS: State Universities Retirement System, TRS: Teachers’ Retirement System

Pension reform: Time to means test COLAs

By Ted Dabrowski
10/15/2013
Illinois’ pension conference committee is once again rumored to be nearing a “fix” for the state’s pension mess. But if the pension conference committee is serious about saving the pensions of state retirees and workers who have dedicated their careers to public work, they will put an end to cost-of-living-adjustments, or COLAs, for government retirees...

TAGS: COLA, GARS: General Assembly Retirement System, JRS: Judges’ Retirement System, SERS: State Employee Retirement System, SURS: State Universities Retirement System, TRS: Teachers’ Retirement System