In the News: Ives bill would give state workers control of their pension nest eggs
Sunday, December 04, 2016
By Hoang Tran | Sangamon Sun
Illinois is in a pension debt crisis, according to a report from Illinois' Commission on Government Forecasting and Accountability (CGFA), which said the state is facing what could amount to $130 billion in unfunded pension liability, with only an estimated 37.6 percent of all pensions being funded.
State Rep. Jeanne Ives (R-Wheaton) said pension reform should be Illinois’ highest priority, especially in regard to taxpayers.
“In my opinion, getting pension reform in the state of Illinois is the most important thing we need to do for the budget of Illinois,” Ives said. “That is because until we solve the pension problem for the long term, taxpayers have no guarantee that any new money they send to Springfield is going for additional services.”