Freedom4um - Article

Illinois' Record-Setting Pension Debt Jumps To Over $300 Billion

Source:	https://www.zerohedge.com/political/illinois-record-setting-pension-debt-jumps-over-300-billion
Published:	Mar 9, 2021
Author:	Tyler Durden
Post Date:	2021-03-09 21:09:38 by Horse
Views:	225

Illinois is an outlier among states both for fiscal challenges from pension expenses and for its limited capacity to modify the benefit packages that drive these expenses.”

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#1: Darkwing To: Horse (#0)

States pension funds and the federal pension funds are all the same, they never put the money in a bank, they spend it on stuff. They are hoping that there will be people paying into the fund, the real problem is when there is no one paying into the fund: that is the problem with the fund I am under, no one has put money into it since 2007.

Darkwing posted on 2021-03-10 07:24:49 Reply Private Reply

#2: BTP Holdings To: Darkwing (#1)

they spend it on things

I can tell you with certainty that the things they spend contributions on are investments in stocks. The Illinois State Pension fund made poor investments and the fund took a huge loss. Those who were receiving benefits iui ts were forced to take a 20% reduction in their payments. This was pure unadulterated mismanagement. ;)

BTP Holdings posted on 2021-03-10 08:37:35 Reply Private Reply