Illinois Record Budget Impasse Makes It Worse for the State's Pension Disaster

  • Land of Lincoln faces worst pension shortfall of all 50 states
  • No budget impedes efforts to stem mounting retirement deficit

As 2015 draws to a close, Illinois marks half a year without a budget. No spending plan has driven up borrowing costs, sunk its credit rating, and perhaps worst of all, exacerbated the state’s biggest problem: its underfunded pensions.

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