Tag Archives: pension

Illinois: Surprise! You owe another $54 billion

A new report forces the question: How could Illinois pols do this to taxpayers?

Chicago Tribune Editorial, April 8, 2012 -

If Springfield won’t ask six-figure pension beneficiaries to pick up a portion of their health premiums, what are the odds that state legislators will confront their pension monster? (William DeShazer, Chicago Tribune / January 5, 2011)

“Previous legislators and previous governors even awarded taxpayer funded health insurance benefits to themselves and 82,000 retirees, where 90 percent of them pay nothing on their insurance premiums. This lack of fiscal accountability has cost us dearly today.”

—Gov. Pat Quinn, Feb. 22, 2012

“All told, state government is on pace to spend nearly $1 billion on retiree health care benefits in fiscal year 2013, more than double what it spent in 2003. Worse yet, these liabilities are growing more than twice as fast as tax revenues.”

—Illinois Policy Institute, April 9, 2012

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