Regional News

Illinois Pension Funds Deteriorate in Fiscal 2012

NOV 14, 2012 4:36pm ET

The health of Illinois' pension system continued it downward spiral in the last fiscal year when unfunded liabilities rose by more than $11 billion and the funded ratio deteriorated to 40.4%, according to the Civic Federation of Chicago.

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Comments (1)
Illinois is assuming an 8.0% rate of return in calculating their funded ratio in the TRS in order to get the funded ratio of 39%. Per their audited statements, they are realizing only a 6% annuallized rate of return over the last 10 years ended on 6-30-11.

If you use this rate instead of 8%, they are not anywhere near 39%!
Posted by Lynn F | Thursday, November 15 2012 at 1:02PM ET
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