This is not a story about underfunded public pensions. It’s no secret that Illinois has more than $140 million in unfunded pension liabilities. However, the “funded ratio,” or assets divided by ...
An unfunded pension liability is a debt but is not treated the same as other government obligations.
Illinois led the nation with nearly $16,000 per capita in unfunded state and local pension liabilities at the end of fiscal year 2024, while Connecticut ranked second with about $10,000 per capita in ...
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