Illinois’ pension crisis has been a growing problem for decades, and its negative effects on state residents are well documented.1 Economic fallout from the COVID-19 pandemic and related government shutdown orders threaten to bring that long-running crisis closer to its breaking point. The state’s five pension systems collectively held nearly $139 billion of debt at...

Pension costs now consume nearly 70 percent of the city’s annual property tax levy. It may not be enough.

The average six-figure retiree contributed just over $160,000 toward their own pension over the course of their career.