Illinois ranks dead last in funding worker pensions

Crain's Chicago Business reports:

For the second year in a row, Illinois ranks dead last when it comes to saving money to pay promised worker pensions -- and the hole is getting worse.

According to a new report being issued this morning by the Pew Center on the States, Illinois through fiscal 2009 had set aside just 51% of the $126 billion it will need to pay retired workers their pensions.

That ranks the Land of Lincoln last of the 50th states, with only West Virginia at 56% and Oklahoma at 57% within six points of Illinois. Financial experts say a prudent state ought to have 90% of the money on hand for pensions that it will need.

The same people who run Illinois , sent Obama to Washington. Illinois needs reform.