Let's analyze this for a moment. The State of Illinois admits that the Illinois retirement system is grossly underfunded and does not even have enough money in its pension fund to pay for half of its pension liabilities but the state will not contribute enough to make up this deficit until year 2034. This actually means that Illinois state employees must wait 22 years just to have enough money contributed by the state adequate to keep additional unfunded liabilities from growing. And then between years 2034 and 2045 the state plans to have the state pension rates funded at 90%.

I don't know about you but waiting until year 2045 just to be at 90% funded is not acceptable. On the contrary, increased employee contributions were called wholesale cigarettes for immediately to help fix the problem. This is outrageous considering Illinois Governor Pat Quinn admits that past Illinois governors and General Assemblies have postponed pension payments and didn't make payments for the past three decades. Since the pension system is now under higher scrutiny the state employees were mandated to increase pension contributions immediately.



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