The state budget will be even tighter than expected in the coming fiscal year because of an unexpected, $540 million increase in what the state will owe its five pension systems in fiscal year 2013.
The five systems – the Teachers’ Retirement System, the State Employees’ Retirement System, the State Universities Retirement System, the Judges Retirement System and the General Assembly Retirement System – certified this week the amounts they will need from the state to meet funding requirements under Illinois law.
Tuesday, April 17, 2012
Illinois Retirement systems deliver budget shock
The State Journal Register reports:
