SDL chart showing the unfunded pension benefits for Illinois, New York, and New Jersey compared to the national average

Illinois in 1st place for most unfunded pension benefits

The title for Most Poorly Managed Pension Benefits is a highly sought after position among fiscally irresponsible states, and Illinois continues to be the reigning champion for more than a decade.

In 2017, Illinois had more than $218 billion in promised pension benefits, but only had $83.4 billion in assets to cover it. That’s more than $134 billion in unfunded benefits. However, this is far from news to our sinkhole state as we continue to plunge further into debt every year.

California and New Jersey were stiff competition for second place, with New Jersey coming on top at $103.5 billion in unfunded benefits compared to California’s $102.5 billion. This has been surprising for New Jersey in recent years since they only had $38 billion in unfunded benefits in 2013. California unfunded benefits also increased by almost 10% since last year!

The competition gets more fierce by the year, but time will tell if either state will beat Illinois for this prestigious title. Check back next year to see who’ll take the crown!


In the meantime, you can learn more about your city and state on our newly updated Pension Database, and make a chart using our State Data Lab!  READ MORE

SDL chart showing the minimum wage for Illinois, New York, and California for 2017, 2018, 2019

Illinois joins New York and California in push to $15 minimum wage

Illinois Governor J.B. Pritzker recently signed a measure that will gradually hike the state’s minimum wage to $15 per hour by 2025.  READ MORE

SDL chart comparing the number of registered firearms in Texas to the 50 state average

How many guns does Texas have?

Answer: They have a lot. The lone star state had a total of 95,269 registered firearms in 2017 according to the U.S. Department of JusticeREAD MORE

SDL chart showing the unfunded pension benefits for New York City, Los Angeles, and Chicago

Chicago, Los Angeles, and New York’s unfunded pensions benefits are getting better

The country’s three largest cities are getting a little better managing their immense unfunded pension benefits, according to our 2019 Financial State of the Cities.  READ MORE

SDL chart showing the three coldest U.S. cities

Which U.S. cities had the coldest winter in 2018?

Last week’s Polar Vortex gave the United States a reminder of how brutally cold winter can get, but these three cities have been used to frigid temperatures for a while.

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Comparing Chicago's and New York City's Taxpayer Burden

In every Financial State of the Cities report since 2014, New York City has ranked last and Chicago has ranked second-to-last.   READ MORE

Which U.S. cities have the most expensive rent?

Think the rent in your city is expensive? Then you might want to stay away from the West Coast, and even the nation’s capital for that matter.

 

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New OPEB database now available!

Truth in Accounting has launched a new database detailing the financial condition of other post-employment benefit plans in all 50 states.  READ MORE

The Financial State of the 3 Largest U.S. Cities

Truth in Accounting has released its newest analyses of the financial condition of New York City, Los Angeles and Chicago.  READ MORE

Are you living in a zombie state?

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