Do you feel better knowing that Illinois is taking serious action to fix this financial crisis for its 700 thousand state and local government employees? Maybe we should look at more recent statistics than 2010 in order to get a more accurate sense of things moving in the right direction. The Illinois Municipal Retirement Fund website indicates that 2011 Pension investment returns for year to date September 30, 2011 is a loss of $1.5 Billion and mentions that the markets were volatile in 2011. However, in October alone the pension investment earned $1.6 billion with an overall loss of $57 million for the year 2011.

Wow, what a roller coaster ride your Illinois pension fund is taking. If you take into consideration that the state of Illinois does not have enough money to pay its bills because it has over $130 billion in debt and liabilities but only has $19 billion in annual revenue you might begin to realize why I think your Illinois State Retirement Fund is in trouble. On February 3, 2012 the stl today reported that the governor's director David Vaught assured Illinois mayors that the state's dire financial woes are improving. Are you ready for a pension bailout?


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