Pension systems will need $9.8B next year, though teachers will ask for even more - The Daily Line

NOV 05, 2019

Pension systems will need $9.8B next year, though teachers will ask for even more
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In 2012, Gov. Pat Quinn’s administration created “Squeezy the Pension Python” as part of its marketing plan to win public support for a pension overhaul law that would cut benefits to state retirees. [Screengrab from YouTube]
Illinois will need to contribute $9.8 billion to its five state pension systems during the 2021 fiscal year, according to new actuarial estimates published last week, representing a $538 million increase in pension costs from what the state is paying to the five systems in the 2020 fiscal year.

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