Illinois faces a serious pension challenge in that our pensions are underfunded, but our fire departments, schools, police and government agencies must continue to attract new employees and keep promises to current and retired employees who depend on the system. Many of us here at MVCC are interested in this, since we are part of one of the state pension systems. This PBS News Hour piece highlights some of the national challenges.
SUMMARY
As more and mores states struggle to keep their pension promises, a new Pew study released Tuesday painted a stark picture of just how big the budget hole has become in some states. Jeffrey Brown discusses the pension gap with the Pew Center’s Kil Huh and Northwestern University’s Joshua Rauh.
Watch Pension Shortfalls Force States to Consider Benefit Cuts on PBS. See more from PBS NewsHour.