Illinois pension report

–Capitol News Illinois

The state saw its unfunded pension liability decrease in fiscal year 2021, due in large part to investment returns exceeding 20 percent, according to a new report from the Commission on Government Forecasting and Accountability released Wednesday, Dec. 8.

Unfunded liabilities – or the amount of debt the state pension funds owe that they can’t afford to pay – dropped by nearly 10 percent, to $130 billion in FY 2021 from $144 billion in the previous fiscal year. That put the state’s five pension funds at 46.5 percent funded, up from 39 percent the previous year.

It’s the t...