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Illinois towns with the worst-funded police and fire pensions

Kevin HoffmanReboot Illinois

Aug 19, 2014

If you’ve been paying any attention at all to the state’s financial condition lately, you know that the biggest threat to Illinois’ fiscal well-being is the money it eventually will owe to retirees of its five public employee pension systems.

We’re on pace to be short $100 billion by 2045, when Illinois law dictates that all state pension systems be 90 percent funded. The systems now average 40 percent funding — half of the generally 80 percent “safe” funding level. A pension reform law passed in December 2013 would ease the pension pressure, but it’s now the

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