Pritzker secures passage of parts of Illinois pension proposal – The Bond Buyer

Pritzker secures passage of parts of Illinois pension proposal – The Bond Buyer

Illinois is still the only state that doesn't aim to fully fund its pension obligations; it sets a statutory 90% funded target as opposed to the actuarially recommended 100% funded target. While Pritzker didn't achieve passage of his plan to fully fund the state's pension system by 2048, he did get other pieces of his proposal across the finish line: an extension of the state's pension acceleration or buyout program, and a redirection of surplus…