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Illinois budget slides us backward on pension debt

from Crain's Chicago Business

As Joe Cahill perceptively noted in his July 11 column, state officials recently took a step backward in their oft-stated desire to resolve the financial problems facing the Teachers' Retirement System and Illinois' other public pension funds. As part of the new state budget for fiscal year 2018, officials enacted a law that requires public pension systems to phase in, over a five-year period, the monetary effects that arise from any changes in their actuarial assumptions. more


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