Illinois pension report
December 15, 2021
–Capitol News Illinois
The state saw its unfunded pension liability decrease in fiscal year 2021, due in large part to investment returns exceeding 20 percent, according to a new report from the Commission on Government Forecasting and Accountability released Wednesday, Dec. 8.
Unfunded liabilities – or the amount of debt the state pension funds owe that they can’t afford to pay – dropped by nearly 10 percent, to $130 billion in FY 2021 from $144 billion in the previous fiscal year. That put the state’s five pension funds at 46.5 percent funded, up from 39 percent the previous yea...