Illinois Pensions $200 Billion Short By 2018

Tony Peraica has this reminder from this Chicago Tribune op-ed:

Writing in the Aug. 13 Tribune, public finance professors Joshua Rauh of Northwestern University and Robert Novy-Marx of the University of Rochester warned that, "A true financial valuation of unfunded pension liabilities reveals a debt of more than $200 billion for (Illinois) state and local governments." They envision the state's funds empty as early as 2018.

The pension fraud that the SEC would never let the private sector get away with.