"I just finished slogging through a 69 page PDF by the State Budget Crisis Task Force outlining the dire state of affairs in Illinois.
I knew in advance that pension funding is the biggest issue facing Illinois. The task force shows exactly that. Here is a summary.
Pension Funding Levels
â?¢Teachers Retirement System (TRS) - 46.1%
â?¢State University Employees Retirement System (SURS) - 45.3%
â?¢State Employees Retirement System (SERS) - 34.9%
â?¢General Assembly Retirement System (GARS) - 20.2%
â?¢Judicial Retirement System (JRS) - 31.0%
Those funding levels assume 8% returns going forward, something that is not going to happen.