Fitch: States’ net pension liabilities rise in FY 2016; Illinois tops list

Pensions and Investments reports:

Illinois has the highest pension burden among all 50 states, said Fitch Ratings' 2017 state pension report released Tuesday. ​

According to the report, Illinois' unfunded pension liabilities amounted to 22.8% of residents' personal income at the end of fiscal year 2016, compared to a median 3.1% for all states and 1% for Florida, the least burdened state.

The median 3.1% for all states is higher than the approximately 2.9% reported in fiscal year 2015, which Fitch attributed in the report to weak asset performance, reduced discount rates, inadequate employer pension contributions, and "ongoing unfavorable demographic and actuarial trends."

The struggles of one Blue America state.