News

Study Predicts Pension Bill Won’t Ease Deficit

Study Predicts Pension Bill Won’t Ease Deficit

A report released today says Illinois’ plan to save $160 billion ultimately won’t make much of a dent in the state’s growing deficits. The University of Illinois’ Institute for Government and Public Affairs study says changes to the state’s major public pension systems will eliminate their unfunded liability over the next 25 years, but the state’s deficit will increase to $13 billion during that time. Institute researchers projected a $14 billion deficit — a $1 billion difference — if the state had not implemented pension reform. Institute Director Chris Mooney says the study was released purposely as campaigns for the 2014 general election begin to heat up. Mooney says he wants to make sure the state’s fiscal crisis is talked about and that people “don’t get complacent.”

 

Recent Headlines

in Entertainment

Man’s ‘Harry Potter’ hoard is world’s largest

harrypotter

Think you're a "Harry Potter" superfan? This man lives in Hogwarts heaven and has the Guinness record to prove it.

in Music

Ray Charles: ‘Genius’ (still) loves company

raycharles

It was a decade ago that Ray Charles released his final album.

in Music

Aretha Franklin covers Adele, Tina Turner

aretha

The legend is singing "great diva classic" songs on an upcoming album.

in Music

Pharrell Williams and Gwen Stefani recording album together

gwen

"The Voice" judges are teaming up in the studio.

in Entertainment, Sports

Michael Strahan making film debut in ‘Magic Mike’ sequel

strahan

The former football star turned TV host is set to take on the big screen.