Pension funding: A crisis since 1917

By Andrew Maloney Law Bulletin staff writer

Posted September 29, 2014 2:54 PM

SPRINGFIELD — Severe underfunding of state and municipal pension funds means that Illinois’ retirement systems are “moving toward crisis,” a group formed to analyze the issue says. The catch? The Illinois Pension Laws Committee stated it almost a century ago — in 1917. That’s one of the novel takeaways in a recent report by the Illinois Senate Democrats’ top lawyer, Eric M. Madiar, and one that he says supplements the case against a recent pension reform law being challenged …

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