Retired public service workers gathered Monday to urge lawmakers to put more money into state pension funds.
The pension situation in Illinois is often referred to as a crisis because as of June 2021, the unfunded pension liabilities were almost $140 billion, according to a Commission on Government Forecasting and Accountability report.
That is money the state has promised to retirees who say they need it to live.
There’s a proposal in this year’s budget to put half a billion dollars toward pension debt on top of the required payments from the state.
Author(s): Jordan Elder
Publication Date: 7 Mar 2022
Publication Site: News Channel 20