Costs for Unfunded Pension Obligations Soar

Illinois’ unfunded public employee pension obligations have increased by more than $120 billion in 25 years. And while a recent report shows strong returns on investment, the unfunded ratio is between 42 and 46 percent. Actuaries recommend funding pensions 100 percent over several years. Pritzker’s administration said in a letter the state’s goal of 90 percent must be sufficient because of ongoing fiscal constraints.