Across all five state retirement systems, typical career workers pay for about 5% of the cost of their pension benefits. They receive an average of $1.7 million to $3.6 million.
A pension plan pushed by one Illinois think tank fails to reform the state’s broken pension system and risks repeating costly mistakes. Gov.-elect J.B. Pritzker shouldn’t be fooled and should instead endorse meaningful, lasting reform.
The former governor’s landmark pension bill paved the way for two decades of go-along-to-get-along pension politics, turning Illinois' pension debt into the nation's largest retirement crisis.