Moody’s is set to require states and local governments to use more transparent and realistic accounting rules when they report their true pension obligations. And that means Illinois’ debt and underfunding numbers will skyrocket.

For governments like the ones in Stockton and Illinois, government worker pension plans need ambitious investment returns of nearly 8 percent year in and year out to fund the overly generous benefits officials have handed out

Facts you won't hear during Gov. Quinn's State of the State 2013 address

Illinois’ credit rating received a warning today from Fitch Ratings. What Fitch cited as the “ongoing inability of the state to address its large and growing unfunded pension liability” means a rating downgrade is likely unless reforms are passed within six months. That warning is just another whack for a state that already has been downgraded...

This morning Illinois was forced to delay a $500 million bond sale – essentially, borrowing $500 million to finance state government operations. The delay was due to a drop in lender confidence in Illinois’ credit worthiness.

On Jan. 25, Standard & Poor's Ratings Services downgraded Illinois' credit to A- from A.

Illinois’ credit rating received a warning today from Fitch Ratings. What Fitch cited as the “ongoing inability of the state to address its large and growing unfunded pension liability” means a rating downgrade is likely unless reforms are passed within s

For years annual pension costs have been crowding out spending on education, health care and public safety. Now, Illinois legislators are looking to lock that in.