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IL HR0776
Resolution
Status
1/8/2013
Primary Sponsor
Rich Brauer
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AI Summary
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Illinois public pension systems have an estimated unfunded liability exceeding $80 billion with increasing annual state contributions.
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Pew Center study ranked Illinois as having the worst-funded pension systems in the nation.
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Commission on Government Forecasting and Accountability directed to study the impact of time and interest on underfunding of five state pension systems: State Employees' Retirement System, Judges Retirement System, General Assembly Retirement System, State Universities Retirement System, and Teachers' Retirement System.
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Commission required to release report, report findings to General Assembly and Governor, and publish results on its website by April 30, 2012.
Legislative Description
COGFA STUDY-PENSION SYSTEMS
Last Action
Session Sine Die
1/8/2013