Our View: Public must force pension action
With Illinois’ 98th General Assembly about to start its spring session in earnest, the state’s pension funding crisis has only grown more urgent.
It is up to the public – even those of us generally content to sit on the sidelines – to add to that urgency by demanding solutions from legislators. Illinoisans are paying more in taxes and getting less for their money. It’s time that ended.
Illinois’ credit rating is dead last among the 50 states, according to bond rating agencies Moody’s and Standard & Poor’s, which lowered the state’s credit rating last week citing – what else? – the state’s failure to address the $96 billion in unfunded liability to its five public pension systems.
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