Unfunded State Pensions Balloon to Over $300 Billion

From State Senator Don DeWitte:

Illinois unfunded pension liability balloons to $317 billion

Don DeWitte

This week Moody’s Investors Service announced that Illinois’ unfunded pension liabilities grew by 19% last year and now stand at a staggering $317 billion.

Just one year ago the liability stood at $261 billion.

Today’s annual pension payments represent a full 25% of the state’s budget, and the Illinois combined pension liabilities are the highest of any state in the nation.

Shortly after taking my seat in the Senate, I formally declined to participate in the General Assembly Retirement System.

In addition to rejecting my own pension, this year I am championing two bills that would go far in helping to stabilize these unsustainable pension systems:

  • SB 2525: Amends the General Assembly and Judges Articles of the Illinois Pension Code by closing those pension systems to new participants.
  • SB 2526: Amends the General Assembly, State Employees, State Universities, Downstate Teachers, and Judges Articles of the Illinois Pension Code by requiring each system to prepare and implement a defined contribution plan by July 1, 2023.

As the business community continues to struggle from financial losses tied to the health pandemic, I am also sponsoring legislation this year that would give these job creators a reprieve from the minimum wage hike that is currently being phased in across the state.

The initial restaurant and business shut-downs and subsequent capacity limits caused by the COVID-19 response caused many of our business owners to shut their doors for good, and those who remain are hanging on by a thread.

Despite sustaining record losses in 2020, our job creators were greeted in 2021 with a mandated $1 per hour hike to the wage they had to pay their lower-income workers.

My new legislation (SB 2268) would push back the ramp for implementation of the minimum wage increase by one full year.

Learn more about this legislation here.


Unfunded State Pensions Balloon to Over $300 Billion — 14 Comments

  1. Don’t worry, Biden is about to make them whole with that 1.9 Trillion dollar bailout.

    This might then be the time to stop pensions all together except for Police, Fire and Jailers, like it started and and was supposed to be all along.

  2. Extreme haircuts for all those former government workers on pensions and future pensioners as well. Cap all yearly pension amounts at $100K per year until government pension systems are fully 100 percent funded and all unfunded liabilities are eliminated.

    Eliminate the yearly COLA.

    Convert all government pension systems to 401 type plans.

  3. The Federal Reserve will just print more money, the dollar continue losing value / buying power and Congress raise taxes.

    Business as usual.

  4. $317 B. If we taxpayers pay back 1B a year ……….In 317 years we’ll have it paid off!

    Of course, not counting the interest that’s due.

    Boy,am I good at math or what!?

  5. Klaatu, what about townships?

    They cost us plenty.

    Klaatu what about MCC?

    Klaatu what about the rotten school districts and Antifa-staffed libraries of LGBTQ degenerates?

  6. Eventually, leftists and the Jewish establishment will realize that conservatives will be harder to subjugate than they expected.

    They will discover that a large part of the US military and law enforcement is on our side. They will start to see mutiny among the people that they rely on as cannon fodder to carry out their dictates.

    Even now, there are sheriffs departments across the country refusing to enforce lockdown orders. And, 30% to 50% of medical professionals say they will not be taking the covid vaccine depending on the state. When the rebellion goes live, this is when the globalists will have to pursue extreme options. They will not be able to win using domestic forces. Instead, they will seek out an international response, probably through the United Nations.

    The rationale will be that the US has an enormous nuclear arsenal and that the international community cannot allow these weapons to fall into the hands of “white supremacists”. This is when the real fight will begin. If international intervention fails in the US, the globalists will find their heads on the chopping block. If the globalists win the fight in the US then there will be very few people left to resist them in the years going forward.

  7. Shalom Overtaxed Senior –

    Of what “Jewish Establishment” do you speak?

    Who are their leaders?

    Where do they meet?

    How do they communicate?

    Who are their proxies in our government?

    Or are you just a bigot?

    How do you feel about African Americans and Hispanics?

    Uber Jew

  8. Shalom Tik Tok —

    I am serious.

    Are you willing to expose them?

    Uber Jew

  9. Shalom Molly —


    There it is, the my fell Hebrews are controlling everything through YouTube.

    It never occurred to me.

    Thank you for the enlightenment.

    Now I know where to get my piece of the pie, I will spend my days watching videos.
    What’s next?

    Do I wait for someone to contact me from there?

    Is there a secret password or handshake?

    Maybe a code or subliminal messages in the videos.

    I gotta know.

    Tell me more.

    Uber Jew

  10. MsTrumpion, you forgot about libraries.

    Once a valuable tool, now a total dinosaur, thanx to the internet…and the list goes on…

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