News

Study: Pension Reform Flawed

Study: Pension Reform Flawed

Photo: Newsradio WTAX

 

The pension overhaul which passed the legislature last month doesn’t do everything. A new study from the U of I’s Institute of Government and Public Affairs says the state still stands to have a multi (b) billion dollar deficit even after it’s caught up on the pension obligations.

The study’s author, economist Dick Dye, says, β€œThe structural deficit – the mismatch between sustainable revenues and spending patterns – is not, in the next ten years at least, fixed. It shaves about $1 billion off the deficit, but a deficit that’s growing from about $4 billion a year to fourteen in ten years.”

Of course, stabilizing the pension problem was the goal, though Dye says the public, and even some lawmakers, may not fully understand that’s all the new law does.

Recent Headlines

in Entertainment

Chris Pratt goes from slob to heartthrob

Fresh
chrispratt

With a more buff physique than his character Andy Dwyer on "Parks and Recreation," Pratt combines cocky and dorky into an unlikely leader of a band of outcasts bent on saving the galaxy.

in Entertainment

Drew Barrymore’s sister found dead

Updated
drewbarrymore

Jessica Barrymore, daughter of actors John Drew Barrymore and Nina Wayne, was found dead in her car.

in Music

New Edition face $500K lawsuit

newedition

The veteran R&B group's former managers are suing the singers for outstanding fees amounting.

in Music

Iggy Azalea lands ‘Fast & Furious 7′ cameo

iggy

The "Fancy" hitmaker has landed a role in the seventh installment of "Fast & Furious."

in Music

New Ray J track details regret over Kardashian sex tape

rayj

Ray J also admits to taking drugs, getting into brawls, and cheating on his girlfriend in the candid track.