Just in time for our final scheduled month of Spring legislative session, a new report was released last week that reinforces Illinois’ need for critical structural reforms if the state is to recover its fiscal footing. Last week, a report from The Pew Charitable Trusts revealed that Illinois’ unfunded pension liability represents 10 a whopping percent of the nation’s total pension debt in 2015.
What this report demonstrates, says Senator Bill Brady, is the need for Illinois to enact common-sense structural reforms, such as pension reform, in order to enact a full-year, balanced budget that will provide a strong fiscal foundation for future budget planning, while at the same time making Illinois attractive to employers.