There are many uncertainties in the days ahead — and it makes me angry that pensions underfunding is yet another one.
Forbes post, “How Will Underfunded Illinois Public Pensions Fare In The Coronavirus/Market Crash Aftermath?”
There are many uncertainties in the days ahead — and it makes me angry that pensions underfunding is yet another one.
Been wondering the same thing. Even if we recover to the point where losses are down twenty percent it will take over four years of solid seven percent gains just to get to where it was before. Since the ISC has protected pensions we could be looking at a scenario where pensions will have to be paid out of general revenue along with money being put into the funds themselves.
But the really sobering statistic is that even with an eleven year Bull market, and ten plus years of spending almost twenty five percent of its budget funding its pensions . Illinois is actually deeper in debt now than it was ten years. You are right Illinois will never get to ninety percent funding of it’s pensions.