Weekend Edition | Illinois’ Pension Debt Grows

(The Center Square) – Illinois unfunded pension liability is growing. The Illinois Commission on Government Forecasting and Accountability reports the latest unfunded liability is $143.7 billion. That’s $1.5 billion higher than last year and the second highest since 2020 when the total was $144.2 billion. Wednesday, Illinois Gov. J.B. Pritzker said they’re doing good things with pensions. “Our funded ratio for our pensions is much better today than it was when I took office and it continues to go in the right direction,” Pritzker said. The funding ratio in 2019 was 40.3%. The most recent funding ratio was 46%. Actuaries suggest a funding level of 100%.