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Underfunded pensions heighten risk of service insolvency for local governments in Illinois

FEBRUARY 7, 2019 | by Marc Joffe | REASON

Statistics published by the Illinois Department of Insurance show many local pension plans with funded ratios at, or below, 50 percent. The implication is that Chicago is not the only Illinois city facing budget pressures arising from retiree obligations. But to determine which Illinois cities are facing the biggest challenges, it is necessary to crunch the numbers from their financial reports.

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