Analysis of the Mess Illinois Finds Itself – Fact 15

A continuation of the analysis of the current situation in Illinois by WirePoints:

Fact 15

15. Higher ed retirements overwhelm. The university crisis was already in full force by 2014. Students were fleeing the state and tuitions had already jumped, in many cases doubled, since 2005.

All that despite rising appropriations from the state – from $2.5 billion to over $4 billion – over the previous decade. Illinois politicians had done nothing to slow the administrative bloat and the cost of pensions. As a result, retirement costs became a priority over students. By 2014, the state spent more on higher ed retirement costs than it did on general operations.


Comments

Analysis of the Mess Illinois Finds Itself – Fact 15 — 3 Comments

  1. Illinois is #1 for make work jobs and the subsequent pensions.

    This bullshit is getting really hard to read about and pay for.

  2. Well past time for transition to 401 type plans, elimination of colas and haircuts for those on lavish pension amounts such as over $100K/year.

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