Bloomberg
This article discusses the state of Illinois’ unfunded pension liabilities on the three-year anniversary of the Illinois Supreme Court’s ruling that the State’s bipartisan attempt at pension reform was unconstitutional. As the article notes, the State has since suffered credit downgrades to one notch above junk status, and the unfunded liability for State pensions ballooned to more than $130 billion. Civic Federation President Laurence Msall said that compounding nature of these liabilities has added to the financial stress of State and local governments, as they struggle to provide necessary services.