Budget Group: IL Pensions May Be Underfunded by $50 Billion-Larger than Entire Illinois Budget

Chicago Public Radio reports:

We’re hearing projections of losses in excess of 20 percent or more. And they were already dramatically underfunded to the tune of about 43 billion. So we believe that we’ll be passing the 50 billion mark.

That’s larger than the state’s annual budget. Illinois pensions aren’t alone in feeling the burden of the financial market meltdown.

Do you really want to be a creditor to the state of Illinois?