How bad the pension crisis really is, and why getting politicians out of the retirement business is the only way to solve it.

Utah passed a 401(k)-style reform plan in 2011. The state’s pension funds had a 50 percent chance of becoming insolvent by 2028 prior to the state’s reform plan – but the reform dropped that chance to 10 percent.

Given the importance of pension reform in Illinois, many groups wanted to weigh in.

Illinois Policy Institute files amicus brief in SB 1 case

More than 20 police and 10 fire pension funds were less than 30 percent funded in 2012.

The expedited hearing is good news. It means the state will know specifically what it can do to address its $111 billion unfunded pension debt sooner rather than later.

Few options remain as Illinois governments confront budget-busting pension obligations.