Name: ‘It’s unsustainable’: Author of Forbes article on Illinois pension liabilities talks to WGN
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‘It’s unsustainable’: Author of Forbes article on Illinois pension liabilities talks to WGN

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Posted: May 4, 2020 / 10:26 AM CDTUpdated: May 4, 2020 / 10:26 AM CDTThis is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.Forbes magazine took a closer look at , and the article has been making the rounds on social media. The report’s author Adam Andrzejewski, CEO and founder of , spoke with WGN Morning News Monday.According to Andrzejewski, the state’s pension situation is so underfunded that a family of four owes more in pension liabilities than their actual income. It would cost every person in Illinois about $19,000 to cover the state’s $251 billion pension liability.“Illinois just may have crossed the rubicon. Who has the plan to bring the state back?” he said. “It’s unsustainable.”OpenTheBooks.com has an Illinois map that shows where public employees have salaries or pensions that are $100,000 or more. Nearly 110,000 public employees make over $100,000, according to the site.Here are other findings from OpenTheBooks.com:So what is the solution? Andrzejewski said , which is on the ballot this November, is one. Another is a federal bailout, whichA third solution, Andrzejewski said, is what Senate Majority Leader Mitch McConnell recently suggested, that and “clean the slate.”Watch Andrzejewski’s full interview in the player above.Suggest a CorrectionThanks for signing up!Watch for us in your inbox.Subscribe NowThanks for signing up!Watch for us in your inbox.Subscribe NowThanks for signing up!Watch for us in your inbox.Subscribe Now✕× Close Ad

Posted: May 4, 2020 / 10:26 AM CDTUpdated: May 4, 2020 / 10:26 AM CDTThis is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.Forbes magazine took a closer look at , and the article has been making the rounds on social media. The report’s author Adam Andrzejewski, CEO and founder of , spoke with WGN Morning News Monday.According to Andrzejewski, the state’s pension situation is so underfunded that a family of four owes more in pension liabilities than their actual income. It would cost every...

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‘It’s unsustainable’: Author of Forbes article on Illinois pension liabilities talks to WGN

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