Illinois’ five state-run retirement systems need $16.8 billion in funding for the coming fiscal year, but state lawmakers only plan to pay $11.7 billion. That’s $5.1 billion less than needed for plans already approaching insolvency.

Illinois' unfunded statewide public pension liabilities grew another $1.5 billion in the past year. Better investment returns couldn’t keep up with public worker pensions growing faster than projected.

The bill introduced by state Rep. Tim Ozinga would redirect savings from shrinking pension payments to support local school districts and reduce Illinois’ second-in-the -nation property taxes. Some districts could see their tax bills cut in half.

Published Aug. 17, 2022 Illinois is home to one of the worst pension crises in the country.1 At 39% funded, according to the nonpartisan Pew Charitable Trusts, Illinois has the worst pension funding ratio of any state.2 By contrast, neighboring Wisconsin’s pension system is 103% funded.3 In fiscal year 2022, Illinois’ total gen­eral funds pension...

Illinois’ broken pension system has allowed loopholes and schemes that cheat other pensioners and drive up taxpayers’ burdens. Here are 10 examples.

Illinois’ 90% funding target already violates best practices, but some have proposed going even lower. That’s a bad idea based on a myth, according to the American Academy of Actuaries.

Illinois’ broken pension system puts $100,000 a year or more into the hands of 62 former state lawmakers. It has paid more than $1 million to 94 of them.

The pension crisis is worse than the state admits, and the state’s official projections cannot be trusted.