Illinois’ Growing Public Employee Pension Liability Crisis

Illinois is rapidly advancing into one of the worst state government pension liability crises in American history.
Last week, debt rating service Moody’s announced that Illinois had achieved the most underfunded pension system for state government employees in U.S. history, where the state “saw its adjusted net pension liabilities reach $250 billion, or 601% of state revenues (in 2017, before the state’s 2018 tax increase), an all-time high for any state.”
According to Moody’s, the median net pension liabilities for states nationally is 107 percent of their tax revenues.
Those liabilities are costly in that Illinois’ credit rating has fallen to be just

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