Even if underfunded lawmaker pension system ends, taxpayers still on the hook for $320 million

Posted on by Mary Pat Campbell

Link: https://www.thecentersquare.com/illinois/even-if-underfunded-lawmaker-pension-system-ends-taxpayers-still-on-the-hook-for-320-million/article_274a2a54-6261-11eb-9fc3-177599b837c0.html#new_tab

Excerpt:

The Illinois General Assembly Retirement System, or GARS, is only 16 percent funded. 

This could be the year lawmakers end it, but that will come with a cost to taxpayers.

Some incoming state lawmakers are opting out of the underfunded pension system for Illinois legislators.

Author: Greg Bishop

Publication Date: 29 January 2021

Publication Site: The Center Square