Pensions are going to bust the state of Illinois. Governor Pritzker is trying to solve the problem. The proposals are listed here. You will search in vain for the real solution to the problem. Namely, to declare bankruptcy and default on the unplayable pensions. The pension cost continue to consume a larger and larger share of Illinois revenue. Illinois legislators are going to sell state buildings, roads, highways, tollways etc to fund the pensions. This is a good thing. The less the state owns, the better.
Another proposal is to raise taxes. It will not solve the problem. People are leaving the state. Thirty years ago it was difficult to leave a state. You had to search in local papers and go to in person job interviews. The internet has changed all of this. Someone half way around the country can call a potential employee and offer them a job after a Skype interview. This has accelerated the exodus from high taxed states over the last decade.
Meanwhile, those expecting to get paid their pensions in full have no plan B. They do not think the checks will ever stop. Their argument?
The state constitution guarantees their pensions. It’s the law!
News flash: when the well runs dry it does not matter what a bunch of bureaucrats wrote on a piece of paper.